VanceInfo Announces Acquisition of US-based Wireless Info Tech

BEIJING, Sept. 30 /Xinhua-PRNewswire/ -- VanceInfo Technologies Inc.
(NYSE: VIT) ("VanceInfo"), an IT services provider and one of the leading
offshore software development companies in China, today announced that,
through its U.S. subsidiary, it has entered into a definitive agreement to
acquire Wireless Info Tech Ltd. ("WIT"), a mobile testing and application
development services provider based in San Diego, California. The acquisition
marks the first strategic move in the U.S. by VanceInfo to expand its onshore
delivery capabilities and enhance its business development forefront. It will
also bolster VanceInfo's position in outsourcing services for the fast growing
mobile sector.
Under the terms of the agreement, VanceInfo will pay an initial
consideration of US$1.08 million in cash and grant certain restricted stock.
Contingent considerations will be paid based on WIT's financial performance in
the next 24 to 30 months.
Headquartered in San Diego, California, WIT specializes in mobile testing
and application development services primarily for handset manufacturers. For
the eight months ended August 31, 2008, WIT generated approximately US$3
million in net revenues. The acquisition will complement VanceInfo's existing
offshore services to the mobile sector and strengthen its dual shore service
platform for its multinational clients. The transaction is expected to close
in October and is expected to be accretive to VanceInfo's full year results.
"We are excited to welcome this highly skilled team into the VanceInfo
family as we continue to carry out our investment strategy in the wireless
sector," said Chris Chen, Chairman and Chief Executive Officer of VanceInfo.
"The combination of our offshore capabilities and WIT's onshore engagement
team will help us better serve our clients' needs. Leveraging the brand and
platform of VanceInfo, the WIT team will also be better equipped for
developing more customers and winning larger projects in the U.S."
About VanceInfo
VanceInfo Technologies Inc. is an IT service provider and one of the
leading offshore software development companies in China. 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
2007 revenues, according to International Data Corporation, or IDC, a leading
independent market research firm.
VanceInfo's comprehensive range of IT services includes research &
development services, enterprise solutions, application development &
maintenance, quality assurance & testing, and globalization & localization.
VanceInfo provides these services primarily to corporations headquartered in
the United States, Europe, Japan, and China, targeting high growth industries
such as technology, telecommunications, financial services, manufacturing,
retail and distribution.
Safe Harbor
This press 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. Such
statements are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Further information
regarding these and other risks is included in VanceInfo's filings with the
U.S. Securities and Exchange Commission, including its registration statement
on Form F-1. All information provided in this press release and in the
attachments is as of October 1, 2008, 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.
SOURCE VanceInfo Technologies Inc.

Melissa Ning, Director, Investor Relations of VanceInfo Technologies Inc.,
+86-10-8282-5330, or ir@vanceinfo.com