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Report: Huatai Securities to buy US asset management software maker

HuataiSecurities Co. Ltd. is looking to acquire a U.S. asset managementsoftware maker, AssetMark Inc., Reuters reported April 6, citing "peoplefamiliar with the matter."

Huatai Securities could pay as much as US$800 million forthe company. There will be competing bids from private equity funds, includinga Chinese buyout firm, the people said.

The successful bidder is expected to be picked as early asApril.

AssetMark declined to comment, and Huatai Securities did notrespond to Reuters' request for comment.