VanceInfo
{{Infobox company |
name = VanceInfo Technologies Inc. |
logo = Image:VanceInfo Logo.png |
type = Public |
foundation = 1995 |
location = Beijing, China |
key_people = Chris Chen (CEO and founder) |
industry = Information technology |
products = |
revenue = US$283.14 million (2011){{cite web|url=http://media.corporate-ir.net/media_files/IROL/21/217590/VIT_Annual_Report_FINAL2.PDF|title=2011 Annual Report|access-date=30 August 2012|publisher=VanceInfo Technologies Inc.}} |
operating_income = US$20.86 million (2011) |
net_income = US$22.19 million (2011) |
aum = |
assets = |
equity = US$303.44 million (at 31 December 2011) |
owner = |
num_employees = 14,111 (at 31 March 2012) |
parent = |
divisions = |
subsid = |
homepage = {{URL|vanceinfo.com}} |
footnotes =
}}
VanceInfo (officially VanceInfo Technologies Inc., formerly known as Worksoft) is an IT outsourcing company headquartered in Beijing, China. It ranks first among Chinese offshore software development service providers for the North American and European markets as measured by 2010 revenues.Mao, Joan [http://www.idc.com/getdoc.jsp?containerId=CN2577404T "China-Based Offshore Software Development 2010–2014 Forecast and Analysis"], IDC, May 2011. The service areas of the company are in tech, telecom, finance, travel, manufacturing, retail and logistics.{{cite web |title=VanceInfo Technologies Inc.: Private Company Information - Businessweek |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=39122635 |access-date=30 August 2016 |publisher=Bloomberg Businessweek}}
In November 2012, the company merged with China-based IT outsourcing industry peer HiSoft to form Pactera.{{cite news|title=VanceInfo, HiSoft to merge to create China outsourcing leader|url=https://www.reuters.com/article/us-vanceinfo-hisoft-merger-idUSBRE8790T620120810|access-date=30 August 2016|publisher=Reuters|date=10 August 2012}}
History
The company was founded in 1995 as Worksoft and started its long-term relationship with IBM. The company added an office in Dalian in 2004, and in that same year signed a contract with Unicom-BREW and built the PeopleSoft China Development Center.
In the next year important achievements included the building of the TIBCO China Development Center and selection as a Microsoft Preferred Vendor and built its China Offshore Development Centers in Shanghai and Beijing. In the same year, the company expanded by acquiring SureKAM and the US-based Siebel consultancy Envisys, and secured financing from funding by Hao Chen, Legend Capital and Rob Theis, Doll Capital Management (DCM).{{cite news|last1=Gluckman|first1=Ron|title=China's VanceInfo Technologies Tries To Outdo Indian Outsourcers.|url=https://www.forbes.com/global/2011/1107/companies-people-technology-service-provider-chen-outsourcing-india-gluckman.html|work=Forbes|date=26 October 2011}}
More venture capital funding followed in 2006 from Kui Zhou and Doug Leone of Sequoia Capital. The company also in 2006 acquired China-based Prosoft Technology.{{Needs citation|date=April 2025}}
In 2007 the company changed its name to VanceInfo and went public on the NYSE,{{Cite web |date=28 November 2007 |title=VanceInfo Technologies sets IPO at 7.65 mln ADS |url=https://www.reuters.com/article/business/media-telecom/vanceinfo-technologies-sets-ipo-at-765-mln-ads-idUSN28355254/ |access-date=9 April 2025 |website=Reuters}} and opened offices in the US in Seattle, Washington and New York.{{Citation needed|date=October 2024}}
The company emerged in the backdrop of partisan political bickering in the US state of Ohio in 2010–2011. A group of state representatives allied with Service Employees International Union District 1199, a branch of a major trade union, pointed out that Mark Kvamme, a political appointee put in charge of creating jobs in Ohio, was a partner in Sequoia Capital, which had invested in VanceInfo. The state representatives and union branded Kvamme as unfit for the role of creating jobs in the state since he was tied to VanceInfo, an outsourcing company, through his stake in Sequoia Capital"[http://www.dispatch.com/content/stories/local/2011/06/22/jobsohio-may-give-kvamme-new-role-in-kasich-administration.html JobsOhio may give Kvamme new role in Kasich administration]," Columbus Dispatch, 6/22/2011
See also
Notes
{{Reflist}}
{{IT consulting and outsourcing companies of China}}
Category:Companies formerly listed on the New York Stock Exchange
Category:Companies based in Beijing
Category:Business process outsourcing companies
Category:Technology companies established in 1995