VanceInfo Technologies, an IT services provider, has acquired the operating subsidiaries of TP Corporation, a Hong Kong-based provider of Customer Relationship Management (CRM) and call centre services.
Headquartered in Hong Kong, TP develops and markets customer care software products in China and Southeast Asia and provides call centre outsourcing services in Hong Kong. For the five months ended May 31, 2009, the estimated revenues of TP are approximately $3.9m.
Chris Chen, chairman and chief executive officer of VanceInfo, said: TP’s CRM products will help enhance our solutions capability, enabling us to better meet the needs of telecom carriers, product vendors as well as clients in other industries with the demand for mission critical customer services.
“With TP’s engagement capabilities in Hong Kong and Southeast Asia, this acquisition will help VanceInfo broaden its client base, reaching out to customers in the region in various sectors.
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Under the terms of the acquisition agreement, VanceInfo is expected to pay an initial consideration of approximately $1.1m in cash. Contingent consideration will be paid based on TP’s financial performance in the next 18 to 30 months.
Earlier in September 2008, VanceInfo has entered into an agreement to acquire Wireless Info Tech, a San Diego, California-based provider of mobile testing and application development services, in a move to expand its onshore delivery capabilities.
