Hydsoft boosts financial IT arm with Meyacom acquisition

BEIJING, CHINA — IT service provider Hydsoft Technology has agreed to acquire Meyacom for CN¥43.7 million (US$6.3 million).

After completing the transaction, Meyacom will become the company’s holding subsidiary.

The investment is seen to enhance the competitiveness of Hydsoft in financial IT. It will also help the company enter the insurance IT service industry and obtain more customers and business opportunities. 

Both companies belong to the IT outsourcing industry. Based in Guangdong, China, Meyacom offers professional software development, technical services, and product sales services to financial companies such as insurance companies, banks, and securities companies. It also provides enterprises with cloud platforms, intelligent applications, data, and business scenarios.

Hydsoft Technology is a Beijing-based firm focused on software, consulting, and information technology services.

Hydsoft earlier acquired two organizations. In November 2022, it acquired Baishuo Tongxing Keji (Beijing) Youxian Gongsi for CN¥76.1 million (US$11.1 million).