The purchase price was approximately $2.6m in cash and Pansoft has finalized the business registration for the new business.
HongAo Power is focused on energy-saving and pollution-reduction solutions for the thermal power generation industry in China.
Pansoft said its investment in HongAo Power will be used to develop new technology.
Pansoft chairman Hugh Wang said that the investment provides Pansoft access to HongAo’s base of thermal power customers and relationships.
"The completion of acquisition of the stake in HongAo is in line with our acquisition strategy to expand our ERP business into energy and power generation market as an integrated solution and service provider," Wang said.
