Business News

VanceInfo Announces Acquisition of Hong Kong-based CRM Solution and Service Provider

Monday 06. July 2009 - VanceInfo Technologies Inc. (NYSE:VIT) ("VanceInfo"), an IT service provider and one of the leading offshore software development companies in China, today announced that it has acquired the operating subsidiaries of TP Corporation Limited ("TP"), a Hong Kong-headquartered provider of Customer Relationship Management ("CRM") solutions and call center services.

Under the terms of the acquisition agreement, VanceInfo will pay an initial consideration of approximately US$1.1 million in cash. Contingent consideration will be paid based on TP’s financial performance in the next 18 to 30 months.

Headquartered in Hong Kong, TP develops and markets customer care software products in China and Southeast Asia and provides call center outsourcing services in Hong Kong. With over 25,000 CRM software licenses installed, TP helps its clients in telecommunications, financial services and government sectors to automate customer operation, support and management. For the five months ended May 31, 2009, the estimated revenues of TP are approximately US$3.9 million.

“We are excited to welcome this highly skilled team into the VanceInfo family as we continue to carry out our investment strategies to build up our expertise and expand in fast growing sectors,” said Chris Chen, Chairman and Chief Executive Officer of VanceInfo. “TP’s CRM products will help enhance our solutions capability, enabling us to better meet the needs of telecom carriers, product vendors as well as clients in other industries with the demand for mission critical customer services. With TP’s engagement capabilities in Hong Kong and Southeast Asia, this acquisition will help VanceInfo broaden its client base, reaching out to customers in the region in various sectors.”