(Yicai Global) Aug. 2 -- The Hong Kong unit of Chinese fintech software provider Client Service International plans to acquire a majority stake in South Korean database developer as part of efforts to boost profitability.

CSI is looking to spend CNY73 million (USD10.6 million) on a 67.2 percent stake in Seoul-based Sunjesoft, the Beijing-headquartered firm said in a statement today.

The deal will improve the CSI's competitiveness and profitability, and it plans to complete the share purchase via affiliate Client Software Systems.

Sunjesoft's Goldilocks product offers an effective solution to tackle slow responses caused by high-frequency trading in financial services, and will help enhance customer experience, the firm said.

Sunjesoft's total assets were CNY33.9 million as of the end of June, with profits of CNY14.2 million for the first half. The company posted an operating income of CNY27 million in the first six months, reversing a full-year operating loss of 27 million for 2017.

Thus far, no agreement has been signed with Sunjesoft's shareholders, and a detailed timetable is still not available for the deal.

Editor: William Clegg