VanceInfo Ranked Number One Chinese Offshore Software Development Vendor in North American and European Markets
May 14 2008 - 3:56AM
PR Newswire (US)
BEIJING, May 14 /Xinhua-PRNewswire/ -- VanceInfo Technologies Inc.
(NYSE:VIT), an IT service provider and one of the leading offshore
software development companies in China, today announced that
VanceInfo has been ranked number one among Chinese offshore
software development vendors for North American and European
markets as measured by 2007 revenues, according to International
Data Corporation ("IDC"). IDC is a global provider of market
intelligence for the information technology, telecommunications,
and consumer technology markets. In its latest sector study, IDC
anticipates that the Chinese offshore software development market
will reach approximately US$8.95 billion in offshore software
development services revenues in 2012 with a five-year compound
annual growth rate (CAGR) of 35.3%. Furthermore, the projected
five-year CAGR for Europe and North America markets is 44.7%. In
2009, Europe and North America will replace Japan and Korea as the
largest import region providing revenues for Chinese offshore
outsourcers. Mr. Chris Chen, Chief Executive Officer of VanceInfo
Technologies, stated, "IDC's recent report ranking us as the top
Chinese offshore software development company for North American
and European markets recognizes what we have achieved and is
rewarding for all of us here at VanceInfo. This report, together
with our listing as the first Chinese outsourcing company on the
New York Stock Exchange, clearly demonstrates that we have been one
of the leading players in the industry. I look forward to achieving
many more "firsts" in the coming years. Once again, I would like to
thank everyone here at VanceInfo for all the hard work and
contributions that have made these achievements possible." About
VanceInfo VanceInfo Technologies Inc. is an IT service provider and
one of the leading offshore software development companies in
China. VanceInfo was the first China software development
outsourcer listed on the New York Stock Exchange. The Company
ranked number one among Chinese offshore software development
service providers for the North American and European markets as
measured by 2007 revenues, according to International Data
Corporation (IDC). VanceInfo's comprehensive range of IT services
includes research & development services, enterprise solutions,
application development & maintenance, quality assurance &
testing, and globalization & localization. VanceInfo provides
these services primarily to corporations headquartered in the
United States, Europe, Japan and China, targeting high growth
industries such as technology, telecommunications, financial
services, manufacturing, retail and distribution. Safe Harbor This
press release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as will, should, expects, anticipates, future,
intends, plans, believes, estimates, and similar statements. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected. Further
information regarding these and other risks is included in
VanceInfo's filings with the U.S. Securities and Exchange
Commission, including its registration statement on Form F-1. This
press release also contains estimates, projections and statistical
data related to the IT services market in several countries,
including China. This market data, including data from IDC, a
leading independent market research firm, speaks as of the date it
was published and includes projections that are based on a number
of assumptions and are not representations of fact. The IT services
market may not grow at the rates projected by the market data, or
at all. The failure of the market to grow at the projected rates
may materially and adversely affect our business and the market
price of our ADSs. All information provided in this press release
and in the attachments is as of May 14, 2008, and VanceInfo does
not undertake any obligation to update any forward-looking
statement as a result of new information, future events or
otherwise, except as required under applicable law. For further
information, please contact: Melissa Ning Director, Investor
Relations VanceInfo Technologies Inc. Tel: +86-10-8282-5330 Email:
Tip Fleming Christensen Tel: +852-9212-0684 Email: Peter Homstaad
Christensen Tel: +1-480-614-3026 Email: Media contact: Jeffery Liu
Manager, Marketing Tel: +86-10-82825266 x8673 Email: DATASOURCE:
VanceInfo Technologies Inc. CONTACT: Melissa Ning, Director,
Investor Relations, VanceInfo Technologies Inc., +86-10-8282-5330,
or ; Tip Fleming of Christensen, +852-9212-0684, or ; Peter
Homstaad of Christensen, +1-480-614-3026, or ; Media contact,
Jeffery Liu, Manager, Marketing, +86-10-82825266 x8673, or , all
for VanceInfo Technologies Inc.
Copyright
Vanceinfo Technologies American Depositary Shares (NYSE:VIT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vanceinfo Technologies American Depositary Shares (NYSE:VIT)
Historical Stock Chart
From Jul 2023 to Jul 2024