BEIJING, Sept. 23 /PRNewswire-Asia/ -- VanceInfo Technologies Inc. (NYSE: VIT) ("VanceInfo") (the "Company"), an IT service provider and one of the leading offshore software development companies in China, today announced the official launch of an offshore development center ("ODC") in Shenzhen, China with Expedia, Inc. ("Expedia(R)"), the world's leading online travel company. The opening ceremony will be attended by Chris Chen, Chairman and Chief Executive Officer of VanceInfo and Pierre Samec, Chief Technology Officer and Global Executive Vice President of Expedia(R).
After the successful completion of a four-month preparatory and transitional period, VanceInfo established the ODC in accordance with the multi-year contract with Expedia signed in May 2009. The two companies have worked together to build a global delivery team in the ODC that provides design, development, testing, production, and maintenance of online travel services platforms, enabling Expedia to enhance the core platforms and services while improving time-to-market and increasing competitive agility.
"We are pleased to be selected by Expedia following a stringent vendor selection process that involved many outsourcing players in China," said Chris Chen, the VanceInfo CEO. "Our collaboration with Expedia has reached a new milestone with the seamless and successful completion of multiple project transitions while launching the new ODC. Leveraging China's unique talent advantages, we are committed to delivering first-class IT services with flexible delivery models to support Expedia's global expansion."
VanceInfo has built and currently operates ODCs for multinational corporations in technology, telecom, financial services and manufacturing industries. This new Shenzhen-based ODC marks a breakthrough for VanceInfo in the travel and transportation industry and is anticipated to further enhance the Company's overall global delivery capabilities to service major outsourcing initiatives of multinational clients.
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 2008 revenues, according to International Data Corporation.
VanceInfo's comprehensive range of IT services includes research & development services, enterprise consulting & 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 news 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. Among other things, the management's quotations contain forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include, but are not limited to, the company's dependence on a limited number of clients for a significant portion of its revenues, the economic slowdown in its principal geographic markets, the quality and portfolio of its services lines and industry expertise, and the availability of a large talent pool in China and supply of qualified professionals, as well as the PRC government's investment in infrastructure construction and adoption of various incentives in the IT service industry. Further information regarding these and other risks is included in VanceInfo's filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in the attachments is as of September 23, 2009, 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.
Expedia(R) is a registered trademark of Expedia, Inc. in the U.S. and/or other countries.
