Longtop Financial Technologies has entered into an agreement to acquire 100% of Jactus Labs, a leading third-party testing company focused on China’s financial services industry. The acquisition is expected to close in March 2009.

Founded in 1999, Jactus Labs was one of the first companies in China to offer third-party software testing and software quality management services in China. The company is headquartered in Beijing with branches in Shanghai and Guangzhou. As a leading player for professional testing in the financial services industry, the company offers comprehensive testing services that include functional and performance testing, project and product evaluation, as well as testing consultancy and training services. Its customer base covers some of the Big Four Banks, policy banks, joint stock banks, city commercial banks, insurance companies as well as the securities industry.

Longtop and the School of Mathematical Sciences of Peking University have jointly established a Financial Risk Management Laboratory that aims to research and develop models in financial risk management primarily for the banking, asset management and insurance sectors. The Lab will also provide technological support to Longtop’s R&D and training to its engineers in the risk management area.

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