Mergers and Acquistions News
Categories: BPO
October 1st 2008, 15:06PM
VanceInfo has announced the acquisition of mobile testing and application development services provider Wireless Info Tech.
The China-based offshore software development company has entered into a definitive agreement through its US-based subsidiary to takeover the American firm for an initial sum of $1.08 million (£610.9 million) in cash.
It will also grant certain restricted stock, while contingent considerations will be paid based on the financial performance of Wireless Info Tech over the next 24-30 months.
Chris Chen, chairman and chief executive officer of VanceInfo, said: "We are excited to welcome this highly skilled team into the VanceInfo family as we continue to carry out our investment strategy in the wireless sector."
He added the consolidation of both companies' offshore capabilities with the onshore engagement team of Wireless Info Tech will better serve client needs.
VanceInfo was founded in 1995 and provides IT outsourcing services to clients in Europe, North America and Asia Pacific.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)