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⚫ {{Infobox company |
{{Primary sources|date=May 2009}}
name = VanceInfo Technologies Inc. |
⚫ {{Infobox Company |
company_name = VanceInfo | logo = ] |
⚫ type = ] |
company_logo = ] |
company_slogan = The Power to Focus | foundation = 1995 |
⚫ location = ], China |
⚫ company_type = ] ({{nyse|VIT}}) |
key_people = Chris Chen (CEO and founder) |
foundation = 1995 |
industry = Information technology |
⚫ location = ], ] |
key_people = Chris Chen (CEO and founder) | products = |
revenue = US$283.14 million (2011)<ref name=annrep>{{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.}}</ref> |
⚫ homepage =
operating_income = US$20.86 million (2011)<ref name=annrep/> |
net_income = US$22.19 million (2011)<ref name=annrep/> |
aum = |
assets = |
equity = US$303.44 million (at 31 December 2011)<ref name=annrep/> |
owner = |
num_employees = 14,111 (at 31 March 2012)<ref name=annrep/> |
parent = |
divisions = |
subsid = |
⚫ homepage = {{URL|vanceinfo.com}} |
footnotes =
}} }}
⚫ '''VanceInfo''' (officially '''VanceInfo Technologies Inc.''', formerly known as '''Worksoft''') is an ] ] company headquartered in ], China. It ranks first among Chinese offshore software development service providers for the North American and European markets as measured by 2010 ].<ref>Mao, Joan , ''IDC'', May 2011.</ref> The service areas of the company are in tech, telecom, finance, travel, manufacturing, retail and logistics.<ref>{{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=]}}</ref>


In November 2012, the company merged with China-based IT outsourcing industry peer ] to form ].<ref>{{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=]|date=10 August 2012}}</ref>
⚫ '''VanceInfo''' ({{nyse|VIT}}) is an ] ] company in ], ], and ranks first among Chinese offshore software development service providers for the North American and European markets as measured by 2010 ].<ref>Mao, Joan , ''IDC'', May 2011.</ref>


⚫ ==History==
==Company Overview==
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 ] 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 that year, the company expanded by acquiring SureKAM and the US-based Siebel consultancy Envisys, and secured financing from funding by Hao Chen, ] and Rob Theis, Doll Capital Management (DCM).<ref>{{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=]|date=26 October 2011}}</ref> More venture capital funding following in 2006 from Kui Zhou and Doug Leone of ]. The company also in 2006 acquired China-based Prosoft Technology. 2007 was a marquee year in which the company changed its name to VanceInfo and listed on the NYSE, and opened offices in the US in Seattle, Washington and New York.{{Citation needed|date=October 2024}}
VanceInfo sells its services across a wide range of industries in the Technology, Telecommunications, Financial Services, Travel Services, Manufacturing and Retail & Distribution sectors. Clients include Microsoft, IBM, Expedia, Cathay Pacific, TIBCO, HP, EMC, NEC, Mitsubishi, Huawei, Lenovo, ABB, 3M and many other leading Fortune 500 companies.{{Citation needed|date=May 2009}}
VanceInfo, headquartered in Beijing, has built offices and branches in Shanghai, Nanjing, Shenzhen, Dalian, Hangzhou, Guangzhou, Tianjin, Wuhan, Chengdu, Xi'an, Hong Kong, Melbourne, Tokyo, Kuala Lumpur, San Diego, Seattle, San Francisco, New York and London.


The company emerged in the backdrop of partisan political bickering in the US state of ] in 2010–2011. A group of state representatives allied with ] 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<ref>"," Columbus Dispatch, 6/22/2011</ref>
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⚫ ==Company History==
===2010===
* Built Offshore Development Center (ODC) for Cathay Pacific Airways
* Opened Melbourne office in Australia
* Built Offshore Development Center (ODC) for Hainan Airlines Group

===2009===
* Built Offshore Development Center (ODC) for Expedia
* Opened London office in UK
* Built Outsourced Development Center for China Merchants Bank

===2008===
* Opened Chengdu office
* Signed contract with a Leading Handset Manufacturer{{Who|date=May 2009}}
* Announced Joint Venture to provide IT outsourcing services to Financial industry

===2007===
* Changed name from Worksoft to VanceInfo
* Listed on the New York Stock Exchange (VIT)
* Opened Seattle, New York office in the USA
* Opened Nanjing, Hangzhou office in China
* Built China Development Center for EMC

===2006===
* Closed Series B venture capital funding by Kui Zhou/Doug Leone, ]
* Built China Development Centers for Reynolds & Reynolds
* Opened Xi'an office
* Acquired China-based Prosoft Technology

===2005===
* Secured Series A venture capital funding by Rob Theis, Doll Capital Management (DCM) and Hao Chen, Legend Capital
* Built the TIBCO China Development Center
* Selected as a Microsoft Preferred Vendor and built its China Offshore Development Centers in Shanghai and Beijing
* Acquired SureKAM and the US-based Siebel consultancy Envisys

===2004===
* Signed contract with Unicom-BREW
* Opened Dalian office
* Built the PeopleSoft China Development Center

===1995===
* Founded
* Started long-term relationship with IBM


==See also== ==See also==
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== Notes == == Notes ==
{{Reflist}} {{Reflist}}
{{IT consulting and outsourcing companies of China}}


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Latest revision as of 12:05, 16 October 2024

VanceInfo Technologies Inc.
VanceInfo Logo
Company typePublic
IndustryInformation technology
Founded1995
HeadquartersBeijing, China
Key peopleChris Chen (CEO and founder)
RevenueUS$283.14 million (2011)
Operating incomeUS$20.86 million (2011)
Net incomeUS$22.19 million (2011)
Total equityUS$303.44 million (at 31 December 2011)
Number of employees14,111 (at 31 March 2012)
Websitevanceinfo.com

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. The service areas of the company are in tech, telecom, finance, travel, manufacturing, retail and logistics.

In November 2012, the company merged with China-based IT outsourcing industry peer HiSoft to form Pactera.

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 that 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). More venture capital funding following in 2006 from Kui Zhou and Doug Leone of Sequoia Capital. The company also in 2006 acquired China-based Prosoft Technology. 2007 was a marquee year in which the company changed its name to VanceInfo and listed on the NYSE, and opened offices in the US in Seattle, Washington and New York.

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

See also

Notes

  1. ^ "2011 Annual Report" (PDF). VanceInfo Technologies Inc. Retrieved 30 August 2012.
  2. Mao, Joan "China-Based Offshore Software Development 2010–2014 Forecast and Analysis", IDC, May 2011.
  3. "VanceInfo Technologies Inc.: Private Company Information - Businessweek". Bloomberg Businessweek. Retrieved 30 August 2016.
  4. "VanceInfo, HiSoft to merge to create China outsourcing leader". Reuters. 10 August 2012. Retrieved 30 August 2016.
  5. Gluckman, Ron (26 October 2011). "China's VanceInfo Technologies Tries To Outdo Indian Outsourcers". Forbes.
  6. "JobsOhio may give Kvamme new role in Kasich administration," Columbus Dispatch, 6/22/2011
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