Professional Financial Services, the company behind the financial software suite, has officially been acquired by a Chinese investment group.
The transaction was announced by the firm on Thursday, but did not disclose the exact amount.
A spokesperson for the investment group, Wanda Group, told E!
News that the deal will be worth $500 million.
According to Wanda, the deal is a “world-class deal” for the firm and the Chinese.
“We are extremely pleased to announce that Wanda has agreed to purchase Wanda Financial, one of the most respected and respected brands in the financial industry,” the company said in a statement.
“As we have stated in the past, we have a long-term commitment to supporting Wanda’s employees and customers and this will provide great benefits to the Wanda group.
Wanda will be a great asset for us and will help us accelerate our growth and accelerate our development.”
The move is a huge win for China, which has long sought to buy the services of the best companies in the industry.
According a recent report by the U.S. Chamber of Commerce, the number of Chinese companies using the WannaCry ransomware has grown to nearly one-third of the U,S.
financial services industry.
Last month, the Chinese government reportedly approved a $200 million loan to help fund WannaCrypt, which the government has claimed will help curb the spread of the virus.
The company said the deal also includes a new $25 million investment by the Chinese state-backed China Investment Corporation.