BEIJING, China, November 6, 2012 - VanceInfo
Technologies Inc. (NYSE: VIT) ("VanceInfo" or the "Company"),
an IT service provider and one of the leading offshore
software development companies in China, today announced
that, at the extraordinary general meeting of the
Company's shareholders (the "EGM") held earlier today,
shareholders voted in favor of, among other things, the
proposal to authorize and approve the previously announced
merger agreement dated August 10, 2012, as amended by the
amendment dated August 31, 2012, by and among HiSoft
Technology International Limited ("HiSoft") (NASDAQ: HSFT),
VanceInfo, Chemistry Merger Sub Inc. and Chemistry Merger Sub
II Inc.(the "Merger Agreement"), the plan of merger in the
form attached as Annex A to the Merger Agreement (the "Plan
of Merger"), and the transaction contemplated thereby (the
"Merger"). Based on the final tabulation, over 98% of the
ordinary shares of the Company present in person or by proxy
at the EGM voted "FOR" the resolution to authorize and
approve the Merger Agreement, the Plan of Merger and the
Merger, which was therefore passed as a special
resolution.
The parties expect to complete the Merger as soon as
practicable. The completion of the Merger is subject to
the satisfaction or waiver of the conditions set forth in the
Merger Agreement with HiSoft. As a result of the Merger,
VanceInfo's American depositary shares will no longer be
listed on the New York Stock Exchange. Upon completion of the
merger, the combined entity will be named "Pactera Technology
International Ltd." in English and "Wensi Haihui Jishu
Youxian Gongsi" in Chinese Pinyin with its American
depositary shares listed on the NASDAQ Global Select Market
under the ticker symbol of "PACT".
About VanceInfo
VanceInfo Technologies Inc. (NYSE: VIT) is an IT
service provider and one of the leading offshore software
development companies in China.
The Company ranked number one among Chinese offshore software
development service providers for the North American and
European markets as measured by 2011 revenues, according to
International Data Corporation (IDC). This marks the
fifth consecutive year that VanceInfo has been ranked number
one by IDC in this category.
VanceInfo's comprehensive range of IT services includes R&D
Outsourcing Services, Consulting and Solutions Services,
Application Management Services and Other Solutions &
Services. VanceInfo provides these services primarily
to corporations headquartered in Greater China, the United
States, Europe and Japan, targeting high-growth industries
such as telecommunications, technology, financial services,
travel and transportation services, manufacturing, retail and
distribution.
For more information about VanceInfo, please visitwww.vanceinfo.com
.
Safe Harbor Statements
This announcement contains forward-looking statements
made under the "safe harbor" provisions of Section 21E of the
Exchange Act. These forward-looking statements can be
identified by terminology such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"likely to" or other similar expressions. VanceInfo may
also make written or oral forward-looking statements in its
reports filed or furnished with the SEC, in press releases
and other written materials and in oral statements made by
its officers, directors or employees to third parties.
Statements that are not historical facts, including
statements about VanceInfo's beliefs and expectations, are
forward-looking statements and are subject to change.
Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could
cause actual results to differ materially from those
contained, either expressly or impliedly, in any of the
forward-looking statements in this press release. These
factors include the risk factors detailed in VanceInfo's
filings with the SEC. All information provided in this
press release is current as of the date of this press
release, and VanceInfo does not undertake any obligation to
update any such information, except as required under
applicable law.
IMPORTANT INFORMATION FOR INVESTORS
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction, HiSoft has filed with the Securities and Exchange Commission ("SEC") a registration statement on Form F-4 (Registration File No. 333-183688) that includes a definitive joint proxy statement of VanceInfo and HiSoft and constitutes a prospectus of HiSoft. VanceInfo and HiSoft may also plan to file other documents with the SEC regarding the proposed transaction. The definitive joint proxy statement/prospectus was first mailed to shareholders and holders of American depositary receipts of VanceInfo and HiSoft on or about October 5, 2012. VANCEINFO AND HISOFT URGE INVESTORS AND SECURITY HOLDERS TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and shareholders may obtain free copies of the definitive joint proxy statement/prospectus and other documents containing important information about VanceInfo and HiSoft through the website maintained by the SEC atwww.sec.gov.
For more information, please contact:
Sheryl Zhang
Investor Relations
VanceInfo Technologies Inc.
Tel: +86-10-8282-5330
E-mail:ir@vanceinfo.com
distributed by |