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Beijing, August 16, 2010 -- VanceInfo Technologies Inc. (NYSE: VIT), a leading China-based IT consulting, solution, and outsourcing service provider, today announced that it has been awarded a spot on the 2010 Global Services 'Top Outsourced Product Development Vendors' list. This marks the first year a Chinese vendor has been selected by Global Services to be among the world's foremost vendors of software R&D services.
The 'Top Outsourced Product Development Vendors' category is a subset of the overall Global Services 100 (GS100) list that represents companies serving mature global customers through advanced global delivery models, have a broad portfolio of service offerings or niche leadership, and have demonstrated business excellence. The 5th Annual GS100 study was conducted by Global Services in association with NeoAdvisory, the globalization and sourcing advisory firm, and reflects the diversity and overall landscape of the service provider community in terms of company sizes, countries of origin and countries of delivery. It represents companies from 18 countries with operations in 30 countries.
"There is a recognition in large companies that outsourcing as a means to reduce costs has had its time; these companies are increasingly looking at service providers being able to make their operations more effective globally and even to transform key areas of their business. The GS100 companies are the ones who are delivering on these fronts and are equipped to demonstrate new forms of value in outsourcing to their clients," says Atul Vashistha, Chairman, NeoAdvisory.
"VanceInfo has been featured as a Global Services 100 provider for the past several years," noted VanceInfo CEO Chris Chen, "yet 2010 marks the first year a China-based provider has broken into this select list of top 10 software R&D services vendors from around the world. We strive to produce world-class software for our clients. Gaining this recognition is a validation of VanceInfo's commitment to advance the potential of our customer and employee stakeholders."
About Global Services and GS100
Global Services, a media platform by CyberMedia, serves the global ITO and BPO industry through quality content, research, services, and marketing solutions. A multi-shore team spanning the U.S.A. and India drives the Global Services brand. The Global Services brand is an integrated media platform that includes: the website 'globalservicesmedia.com', conferences, research, webinars, e-magazines, custom publishing, and various other content delivery formats.
GS100 is the annual survey and analysis of the global ITO-BPO industry done by Global Services in association with NeoAdvisory, a consulting and advisory firm that enables organizational transformation by leveraging outsourcing and globalization. The survey recognizes service provider excellence and maturity to serve the global market. The GS100 is a benchmark in the global ITO and BPO industry because of its rigorous methodology, exhaustive coverage, and value to the services buyer community.
About VanceInfo
VanceInfo Technologies Inc. is a leading China-based IT consulting, solution, and outsourcing service provider. 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 include: 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, 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 and "Outlook for the Second Quarter 2010" 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 August 16 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.
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