VanceInfo Shareholders Approve Merger with HiSoft
VanceInfo, 11/06/12
Chinese IT service provider and software outsourcing firm VanceInfo Technologies (NYSE: VIT) today announced that, at the extraordinary general meeting of the company's shareholders held earlier today, shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced merger agreement between HiSoft Technology International (Nasdaq: HSFT) and VanceInfo.
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".
Keywords: Pactera PACT software Hisoft VanceInfo VIT HSFT M&A IT services software outsourcing
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