VanceInfo to Build Outsourced Development Center for China Merchants Bank
(NYSE: VIT) (“VanceInfo”), an IT service provider and one of the leading
offshore software development companies in
signed a contract to deploy an Outsourced Development Center (“ODC”) for China
Merchants Bank (HKEx: 3968) (“CMB”), a top seven national commercial bank in
VanceInfo has begun establishing the ODC to help develop comprehensive
supporting systems and management applications to facilitate CMB’s core
business, enabling large scale system reengineering and innovation in
corporate finance, credit management, risk management and internal auditing.
As one of the best managed banks in
customer base and over 500 branches in mainland
disciplined management and advanced IT systems, CMB has been a pioneer in
developing and upgrading its IT infrastructure to support its transformation
into a premier Chinese financial institution operating to global standards.
entrusted VanceInfo with its first ODC after a rigorous selection process
involving substantially all major
the new assignment underscores our delivery capabilities for financial
services clients and heralds further growth for VanceInfo in this field.
VanceInfo is committed to building a successful ODC delivery model for CMB to
support its continued growth and operational excellence. We look forward to a
long term partnership with this strategic client.”
VanceInfo Technologies Inc. is an IT service provider and one of the
leading offshore software development companies in
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, or IDC, a leading
independent market research firm.
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
such as technology, telecommunications, financial services, manufacturing,
retail and distribution.
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. 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
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, including its registration statement
on Form F-1. All information provided in this press release and in the
attachments is as of
obligation to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under applicable
SOURCE VanceInfo Technologies Inc.