China's VanceInfo and hiSoft in merger of equals

VanceInfo Technologies and hiSoft Technology merge in an all-stock marriage to create an IT powerhouse in China.

China's VanceInfo and hiSoft in merger of equals
HiSoft's ADSs are listed in New York on Nasdaq

VanceInfo Technologies announced on Friday that it would merge in a 100% stock-for-stock transaction with its rival hiSoft Technology to create what they say will be the biggest China-based offshore IT services provider by revenue.

Under the terms of the agreement, VanceInfo and hiSoft shareholders will each own 50% of the combined company upon completion of the transaction. Each party will appoint four members to the combined board and the company will operate...

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