Pactera's Special Committee Engages Financial Advisor
BEIJING, June 3, 2013
BEIJING, June 3, 2013 /PRNewswire/ -- Pactera Technology International Ltd.
(Nasdaq: PACT) ("Pactera" or the "Company"), a global consulting and
technology services provider strategically headquartered in China,today
announced that its Special Committee of the Board of Directors (the "Special
Committee"), which was formed to consider a proposal by a consortium comprised
of an affiliate of funds managed or advised by Blackstone, the Company's
non-executive Chairman, Chris Chen, its Chief Executive Officer, Tiak Koon
Loh, and its Executive Committee members, David Chen, Sidney Huang, and Jun
Su, to acquire all of the outstanding shares of Pactera not currently owned by
such consortium members in a going private transaction (the "Proposed
Transaction"), has retained J.P. Morgan Securities (Asia Pacific) Limited as
its financial advisor to assist the Special Committee in its evaluation of the
Proposed Transaction and any potential alternative transactions. No decisions
have been made by the Special Committee with respect to the Company's response
to the proposal and there can be no assurance that any definitive offer will
be made, that any agreement will be executed or that this or any other
transaction will be approved or consummated.
Pactera Technology International Ltd., formed by a merger of equals between
HiSoft Technology International Limited and VanceInfo Technologies Inc., is a
global consulting and technology services provider strategically headquartered
in China. Pactera provides world-class business / IT consulting, solutions,
and outsourcing services to a wide range of leading multinational firms
through a globally integrated network of onsite and offsite delivery locations
in China, the United States, Europe, Australia, Japan, Singapore, and
Malaysia. Pactera's comprehensive services include business and technology
advisory, enterprise application services, business intelligence, application
development& maintenance, mobility, cloud computing, infrastructure
management, software product engineering& globalization, and business process
For more information about Pactera, please visit www.pactera.com.
Safe Harbor: Forward-Looking Statements
Thisnewsrelease contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section21E of
the Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes," "estimates,"
"target," "going forward," "outlook" and similar statements. Such statements
are based upon management's current expectations and current market and
operating conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult to predict
and many of which are beyond Pactera's control, which may cause Pactera's
actual results, performance or achievements to differ materially from those in
the forward-looking statements. 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, uncertainty relating to its
clients' forming or plan to form any joint venture with the Company's
competitors, the economic slowdown in its principal geographic markets, the
quality and portfolio of its service lines and industry expertise, and the
availability of a large talent pool in China and inflation of qualified
professionals' wages, 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,
uncertainties or factors is included in Pactera's filings with the U.S.
Securities and Exchange Commission.All information provided in this news
release is as ofthe date of this news release, andPactera 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
For further information, please contact J.P. Morgan Securities (Asia Pacific)
Managing Director / Co-head of North Asia M&A
Tel: +852- 2800-6786
SOURCE Pactera Technology International Ltd.
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