Business unit TPI will help Shanghai satellite create financial services outsourcing hub
STAMFORD, Conn., March 18 /PRNewswire-Asia/ -- Information Services Group, Inc. (ISG) (Nasdaq: III, IIIIU, IIIIW), an industry-leading information-based services company, announced that its business unit TPI, the largest sourcing data and advisory firm in the world, today signed an extension of its agreement to help Huaqiao become the hub of financial services outsourcing in China.
The new contract runs through 2010 with optional extensions through 2012. Financial terms were not disclosed.
"TPI is making a great contribution to Huaqiao and Kunshan Province," said Zhang Guohua, Kunshan Party Secretary. "Our cooperation with TPI is helping Huaqiao optimize the structure of our outsourcing industry, raise its profile and accelerate its growth."
Added Ren Xueyuan, director of the Huaqiao Economic Development Zone: "We could not have reached this agreement without the focus, long-term perspective and commitment to mutual benefit of TPI."
Since September, TPI has been working with Huaqiao to create China's first operating protocols and standards for outsourcing industry participants. The protocols and standards, which will address issues such as business setup, data privacy, intellectual property, measurement and reporting systems and training and education, are designed to increase the city's appeal to global sourcing buyers, service providers setting up delivery centers and global corporations building captive or shared services centers.
Huaqiao is an economic development zone dedicated to services outsourcing. The Huaqiao International Service Business Park, located just 12.4 miles (20 km) east of central Shanghai, is expected to employ 300,000 people and produce US$15 billion in annual revenue within five to 10 years.
Said Michael P. Connors, Chairman and CEO, ISG and TPI, "We are excited about strengthening our relationship with Huaqiao and continuing our work together at the edge of this critical new frontier for the sourcing industry. China has a tremendous opportunity in financial services outsourcing, and Huaqiao and TPI are in a prime position to lead the development of that market."
About TPI
TPI, a unit of Information Services Group, Inc. (ISG) (Nasdaq: III, IIIIU, IIIIW), is the founder and innovator of the sourcing advisory industry, and the largest sourcing data and advisory firm in the world. We are expert at a broad range of business support functions and related research methodologies. Utilizing deep functional domain expertise and extensive practical experience, our accomplished industry experts collaborate with organizations to help them advance their business operations through the best combination of business process improvement, shared services, outsourcing and offshoring. For additional information, visit http://www.tpi.net .
About Information Services Group, Inc.
Information Services Group, Inc. (ISG) (Nasdaq: III, IIIIU, IIIIW) was founded in 2006 to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. In November 2007, the company acquired TPI, the largest independent sourcing advisory firm in the world. Based in Stamford, Conn., ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. For more, visit http://www.informationsg.com .
