BEIJING, Feb. 25, 2014 /PRNewswire/ -- Pactera
Technology International Ltd. (Nasdaq: PACT) ("Pactera" or the
"Company"), a global consulting and technology services provider
strategically headquartered in China, is pleased to announce that
Institutional Shareholder Services Inc. ("ISS") and Glass Lewis
& Co., LLC ("Glass Lewis") have recommended that Pactera
shareholders vote for approval of the Company's agreement and plan
of merger (the "Merger Agreement") dated October 17, 2013 under which the Company will be
acquired by a consortium led by funds managed or advised by
Blackstone (as defined below) for US$7.30 per common share (a "Share") or
US$7.30 per American depositary share
(an "ADS"), each representing one Share, of the Company (the
"Transaction"). The Transaction has already obtained all necessary
antitrust approvals under the PRC Anti-Monopoly Law, the Japanese
Act on Prohibition of Private Monopolization and Maintenance of
Fair Trade and the U.S. Hart-Scott-Rodino Antitrust Improvements
Act of 1976.
(Logo: http://photos.prnewswire.com/prnh/20130118/CN37843LOGO
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ISS and Glass Lewis are leading independent international proxy
advisory firms and their voting analyses and recommendations are
relied upon by thousands of major institutional investment firms,
mutual funds and fiduciaries throughout the world.
The Company's extraordinary general meeting of shareholders (the
"EGM") to consider and vote on, among other things, the Merger
Agreement and the Transaction will be held on Thursday, March 6, 2014 at 10:00 a.m. (Beijing Time) at Building C-4, No. 66
Xixiaokou Road, Haidian District, Beijing 100192, the
People's Republic of China. Shareholders of record as of the
close of business in the Cayman
Islands on February 12, 2014
will be entitled to vote at the EGM. The record date for ADS
holders entitled to instruct Deutsche Bank Trust Company Americas,
the ADS depositary, to vote the shares represented by the ADSs is
the close of business in New York
City on January 30, 2014.
The Company's shareholders and ADS holders are encouraged to
read the Company's definitive proxy materials in their entirety as
they provide, among other things, important information regarding
the Merger Agreement and the Transaction. The Company has also
retained Ipreo Holdings LLC as its proxy solicitor to assist it in
connection with its upcoming EGM. Shareholders and ADS holders who
have questions about the Merger Agreement or the Transaction, need
additional copies of the Company's proxy materials, or need
assistance in voting their Shares are encouraged to contact Ipreo
Holdings LLC by email at pactera@ipreo.com (attention: Pactera
Team) or by phone at +1 (888) 593-9546 (toll free) or +1 (212)
849-3880 (outside of the United
States).
The Transaction is subject to various closing conditions,
including a condition that the Merger Agreement be approved by an
affirmative vote of shareholders representing two-thirds or more of
the Shares present and voting in person or by proxy as a single
class at a meeting of the Company's shareholders convened to
consider the approval of the Merger Agreement and the Transaction.
If completed, the Transaction will result in the Company becoming a
privately-held company and its ADSs will no longer be listed on the
Nasdaq Global Select Market.
About Blackstone
The Blackstone Group L.P. (together with its affiliates,
"Blackstone") is one of the world's leading investment and advisory
firms, with 25 offices around the world. Through its different
investment businesses, as of December 31,
2013, Blackstone had total assets under management of
approximately US$266 billion,
including US$65.7 billion in private
equity funds. Through December 31,
2013, Blackstone's private equity funds have invested
approximately US$41 billion in 177
transactions in a variety of industries and geographies.
Blackstone's private equity funds currently manage a global
portfolio of investments in 72 companies, which in aggregate
combine to represent over US$86
billion of revenues and over 595,000 employees. Our current
global investment fund, Blackstone Capital Partners VI, is one of
the largest private equity funds in the world with committed
capital of US$16.2 billion.
About Pactera
Pactera Technology International Ltd. (NASDAQ: PACT), 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, Malaysia, Mauritius and Switzerland. 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 outsourcing.
For more information about Pactera, please visit
www.pactera.com.
Safe Harbor: Forward-Looking Statements
This news release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E 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, uncertainties as to how the Company's shareholders will
vote at the meeting of shareholders; the possibility that competing
offers will be made; the possibility that debt financing may not be
available; the possibility that various closing conditions for the
transaction may not be satisfied or waived; and other risks and
uncertainties discussed in the Schedule 13E-3 transaction statement
and the proxy statement filed by the Company. 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 of
the date of this news release, and Pactera 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.
For further information, please contact:
Tracy Zhou
Investor Relations
Pactera Technology International Ltd.
Tel: +86-10-5987-5138
E-mail: ir@pactera.com
SOURCE Pactera Technology International Ltd.