BEIJING, March 6, 2014 /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 at an extraordinary general meeting held today, the
Company's shareholders voted to approve the proposal to authorize
and approve the previously announced Agreement and Plan of Merger
dated as of October 17, 2013 (the
"Merger Agreement"), among the Company, BCP (Singapore) VI Cayman Acquisition Co. Ltd.
("Parent"), BCP (Singapore) VI
Cayman Financing Co. Ltd. ("Midco"), and BCP (Singapore) VI Cayman Merger Co. Ltd. ("Merger
Sub"), the plan of merger (the "Plan of Merger") and the
transactions contemplated thereby. 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
)
Approximately 99% of the Company's outstanding common shares
(the "Shares") entitled to vote were present in person or by proxy
at today's extraordinary general meeting. Of the Shares present in
person or by proxy at the extraordinary general meeting,
approximately 89% were voted in favor of the proposal to authorize
and approve the Merger Agreement and any and all transactions
contemplated by the Merger Agreement, including the merger. A
two-third majority of Shares present and voting in person or by
proxy at the extraordinary general meeting was required for
approval.
The parties expect to complete the merger as soon as
practicable, subject to the satisfaction or waiver of the
conditions set forth in the Merger Agreement. If the merger is
completed, the Company will continue its operations as a privately
held company and, as a result of the merger, the American
depositary shares, each representing one Share (the "ADSs"), will
no longer be listed on the NASDAQ Global Select Market and the
American depositary shares program for the ADSs will terminate.
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, 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.