Zoyi Capital invests in Camelot Information Systems
Zoyi Capital has completed its USD20m investment in Camelot Information Systems, a provider of enterprise application services and financial industry information technology services in China.
This follows the announcement by Camelot in September last year that it had entered into a merger agreement for a going private transaction.
Camelot is the largest domestic provider of SAP-based enterprise resource planning services in China and also ranks first in several types of solutions, including teller systems and IT testing, to the financial IT services market. The company has developed a large talent pool of SAP-based ERP consultants, and has long term relationships with many blue-chip customers.
“With this investment, we are excited to increase Zoyi Capital’s footprint in the Chinese IT services sector. We believe as a broad-based player that provides various solutions to customers in a wide range of verticals, Camelot is well positioned to capture the secular growth opportunity in China’s large and underpenetrated IT services market,” says Andrew Kuo, founding partner and CEO of Zoyi Capital.
Zoyi Capital has a long relationship with Camelot’s chairman, president and CFO, dating back to 2006, which led to early discussions between the two parties to partner together on the take private of Camelot.
“We look forward to benefiting from Zoyi’s experiences and network in the financial industry in China. This partnership will strengthen our financial expertise and allow us to deliver better services and solutions that meet the constantly evolving IT needs of the enterprises and banks in China,” says Simon Ma, chairman and CEO of Camelot.
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