(Yicai) Oct. 9 -- Zwsoft, a Chinese developer of industrial simulation software, said it will pay GBP5.6 million (USD6.8 million) to acquire a UK supplier of fluid dynamics simulation software to enrich its product portfolio and provide high-quality solutions.

Zwsoft's Hong Kong-based unit inked the deal with Colleen Iona Spalding, the sole shareholder and director of the target company Concentration, Heat and Momentum, the Guangzhou-based firm announced late yesterday.

CHAM's Phoenics was the world's first commercial computational fluid dynamics simulation software when introduced in 1981, Zwsoft noted, adding that it has been widely used in industries such as architecture, automotive, and energy transfer as well as in meteorological and ocean circulation research.

Zwsoft will own Phoenics' source code and core technologies after the transaction, it noted, and by combining the new asset with its own propriety technologies, the acquisition will enable Zwsoft to provide more comprehensive and higher quality solutions to its industrial clients, it added.

Founded in 1974 and based in London, CHAM’s clients include well-known universities and companies, including the United Kingdom's University of Cambridge, Norway's WindSim, and China's Tsinghua University and Fudan University, Zwsoft pointed out.

Shares of Zwsoft [SHA: 688083] closed 0.8 percent higher at CNY122 (USD16.72) apiece today, after earlier gaining by as much as 2.1 percent. The Shanghai Composite Index rose 0.4 percent.

Editor: Martin Kadiev