BEIJING, Jan. 11, 2011 /PRNewswire-Asia/ -- VanceInfo Technologies Inc. (NYSE: VIT) ("VanceInfo"), an IT service provider and one of the leading offshore software development companies in China, today announced the official launch of an Outsourced Development Center ("ODC") in Beijing, China with HNA Tourism Holding (Group) Company Ltd. (“HNA Tourism Group”), the tourism business of a leading China travel industry conglomerate Hainan Airlines Co., Ltd. (“HNA Group”). The opening ceremony was attended by Chris Chen, Chairman and Chief Executive Officer of VanceInfo and Yanbing Yu, CIO of HNA Tourism Group.
VanceInfo has begun establishing the ODC to help HNA Tourism Group enhance IT capabilities and develop comprehensive e-commerce applications that facilitate B2B and B2C travel business activities including e-commerce and online payment systems designed to improve client services while reducing time-to-market, increasing competitive agility, and supporting future growth.
HNA Group has been expanding from air transportation to travel, logistics and financial services. Its services now cover all the key elements of tourism, including catering, lodging, traveling, sightseeing, shopping and entertainment. HNA Group anticipates the Beijing-based ODC to be a starting point for future collaboration with VanceInfo in its effort to explore new applications of information technologies and solutions.
"Diversification strategy of the Group has placed greater demands on our IT capabilities," commented HNA Tourism Group CIO Yanbing Yu. "We want to align e-commerce with our other business critical systems, and leverage new paradigms and technologies such as cloud computing to better support our business growth. We expect the new ODC with VanceInfo to play a significant role in enhancing our service model and increasing efficiency levels while allowing us to maintain control of capital expenditures."
"We are pleased that HNA Tourism Group has entrusted VanceInfo with its first ODC following a comprehensive vendor selection process," said Chris Chen, the VanceInfo CEO. "This marks a new milestone in our collaboration with HNA Group. We believe this new assignment underscores our delivery capabilities for travel services clients and heralds further growth for VanceInfo in this field. We are committed to building successful ODC delivery models for clients in support of their growth and operational excellence, and look forward to strengthening our long term partnership with this strategic client."
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 2009 revenues, according to International Data Corporation.
VanceInfo's comprehensive range of IT services includes research & development services, enterprise solutions, application development & maintenance, quality assurance & testing, globalization & localization and other solutions and services. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and Greater China, targeting high-growth industries such as technology, telecommunications, financial services, travel 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. 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 January 11, 2010, 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.
