0000950123-11-028130.txt : 20110323 0000950123-11-028130.hdr.sgml : 20110323 20110323124354 ACCESSION NUMBER: 0000950123-11-028130 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110301 FILED AS OF DATE: 20110323 DATE AS OF CHANGE: 20110323 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VanceInfo Technologies Inc. CENTRAL INDEX KEY: 0001417961 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33857 FILM NUMBER: 11705879 BUSINESS ADDRESS: STREET 1: 3/F, BUILDING 8 STREET 2: ZHONGGUANCUN SOFTWARE PARK, HAIDIAN DIST CITY: BEIJING STATE: F4 ZIP: 100094 BUSINESS PHONE: (86-10) 8282-5266 MAIL ADDRESS: STREET 1: 3/F, BUILDING 8 STREET 2: ZHONGGUANCUN SOFTWARE PARK, HAIDIAN DIST CITY: BEIJING STATE: F4 ZIP: 100094 6-K 1 c14545e6vk.htm FORM 6-K Form 6-K
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March 2011
 
Commission File Number: 001-33857
 
VANCEINFO TECHNOLOGIES INC.
3/F, Building 8, Zhongguancun Software Park
Haidian District, Beijing 100193
People’s Republic of China
+86 (10) 8282-5266
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F þ          Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o          No þ
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-N/A
 
 

 

 


 

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
  VANCEINFO TECHNOLOGIES INC.
 
 
  By:   /s/ Sidney Xuande Huang    
    Name:   Sidney Xuande Huang   
    Title:   Chief Financial Officer   
Date: March 23, 2011

 

2


 

EXHIBIT INDEX
         
    Page  
 
       
Exhibit 99.1 —Press Release
    1  

 

3

EX-99.1 2 c14545exv99w1.htm EXHIBIT 99.1 Exhibit 99.1
Exhibit 99.1
(VANCEINFO LOGO)
VanceInfo Announces Share Repurchase Plan and Acquisition of Oracle Consulting Firm
VanceInfo Technologies Inc. (NYSE: VIT) (“VanceInfo” or the “Company”), an IT service provider and one of the leading offshore software development companies in China, today announced that its Board of Directors has approved a share repurchase program, effective March 2011. Under the program, VanceInfo has been authorized, but is not obligated, to repurchase up to $40 million worth of outstanding American Depositary Shares (ADSs) representing the ordinary shares of VanceInfo from time to time over the next 12 months, depending on market conditions, share price and other factors, as well as subject to the relevant rules under US securities regulations.
The share repurchase program will be funded by the Company’s 2011 free cash flow as well as existing working capital. As of December 31, 2010, the Company had cash, cash equivalents and marketable securities of approximately US$181.7 million.
As of December 31, 2010, the Company had 44,556,910 ordinary shares issued and outstanding.
In early March 2011, VanceInfo acquired 100% equity interest in Bright Consulting (Beijing) Limited(“Bright”), a China-based IT services company providing Oracle consulting and implementation services to Chinese domestic clients. Under the terms of the acquisition agreement, VanceInfo will pay an initial consideration of approximately $0.7 million in cash and stock. Contingent consideration will be paid based on Bright’s financial performance in the next 24 months. Bright generated approximately $1.5 million in net revenues in 2010. The acquisition aims to strengthen VanceInfo’s domestic consulting capabilities, especially in the Oracle ERP area.

 

 


 

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 2009 revenues, according to International Data Corporation.
VanceInfo’s comprehensive range of IT services includes research & development services, enterprise solutions, application development & maintenance, quality assurance & testing, globalization & localization and other solutions and services. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and Greater China, targeting high-growth industries such as technology, telecommunications, financial services, travel services, manufacturing, retail and distribution.
Safe Harbor
This news 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. 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, the economic slowdown in its principal geographic markets, the quality and portfolio of its services lines and industry expertise, and the availability of a large talent pool in China and supply of qualified professionals, 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 is included in VanceInfo’s filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in the attachments is as of March 21, 2011, 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.
For further information, please contact:
Melissa Ning
Associate Vice President, Investor Relations
VanceInfo Technologies Inc.
Tel: +86-10-8282-5330
E-mail: ir@vanceinfo.com

 

2

GRAPHIC 3 c14545c1454500.gif GRAPHIC begin 644 c14545c1454500.gif M1TE&.#EA4``^`.8``&.!K2Q5D$-IG?;X^NKN]'F4N5)TI,71X?GDX_+U^.OR M^J"SSB=2CNNAG&Z*LXJBPKO6[M7=Z9ZQS-UA6,+.W^-\=5AYJ*O,ZM/D]'&- MM>%S:[G'VN7J\4INH.:-AK'!UEU]JIW#Y]':Y_GZ_+3#V):_Y3QBF\==$ M.9FMR35=E;;2[*FZTH*:O?O\_>RHH^WQ]=Q=5"-/C-[D[=C@Z\K5X^F:E$YQ MH_WU]./H\+W*W/?Y^^3O^.B2C-4Y+LS6Y).IQ^'L]_/V^=,Q)G60MM0V*]KH M]N!M9:/'Z*Z^U.#F[]KA[,[8Y=]H8(2=OZ;)Z2]8DGZ7NY>KR,?2XC):E-(M M(6>%K[O(VZ>XT>?P^>>.B/;7U<'9[['/Z]E.1%9WIM(J'O'S]_[^_OW]_I"F MQ;_,W?S\_>6'@*2WT(.(B8J+C(,02)"1DD\0>8V("S<=FYR=FPQ^9&S8`##`%!=4V,$Q4RB+OEA!+HVQ`I!(`A4`6_RY`A"-(3'-'O99 MT8_1E6K@F&`!*&.)"P/L9'`XQ$-DGQ)9&CD`""+!.G89_OP`&!11")M<&!%` MN>W`!X!^1/R)`C!"(B,V0S`B`M"$&`!=_S#1!DY>HC$E;-91-.88NP]*_YA: MX_-G)S@J819QL7E!$4%V*D9P90=E`!H9X&XP8;2GW,,UM1#!9$=D!$9V5L2P MD,"YLV<2!"ZML'D"40Z62OX!K"&-$5:1:DH62L'S3P>`!EHS-R0#PP0`3`%=1UVLSVB`1;L&) M4,UNQOA%"FRJR?[G`4!Y!0`Z>,_HJ,@5@\`#C@Y+7`;./?PI4H=\"?S1'&$# MX$)89`DBXH)C^K"!SD_@:/1%1A4N$I(^7?P!`U1OQ`%5:"$FXM!#:Z4!T`UU MS=CB(D_H.R(8Z4/-C2A11->'#%!!1J\<%P^ MSI1&`51E3`$0`P=QK MK["Q1XWL".#"I=O`X8(B5VH!1@P3S('"$#Y,$.EQ+I#9QQ-_N%'KK"+(*HQ4 MT/KP)0I-]'"$NA7(,5YRKQCQ!T7L`"!&FFTR@H`7*(`QQ!%?NQ-R+<^7&X(M'EHH0@8/G1TP<%$-&& M>W_L,,44!"00!1%B"T+``T2TP)H@4XR.AJ=_)"[/&Y_O4`,1480&PQ2W,8#& MZBY\`/8#+)[GU@=_)%"-%%3I0D49?Q3GQ&4,T#6/@3<((484B.5B0`ZQZ_V' M_P2YM$"6"4N8G`L4?Q#PH2XJ(#_(")5K)((N(A!Q0QH.!$-C<>GQ@P#:=QDJ MJ&!NJKE!`1"3AO`I;GRY8$H;U.<']MF%"K?Q@PD&0(B^J<`,*Q%@^P:1'S^, MH#A^``()R"*$YMW@67&PC0#?\(<6:)`#LH.@!OG@A%S`80`Y@$D`RL"!`2"& M"J'YR08(X09=T*!Y+/@#!PK0`1.X!0;%H=$?X)"+,$QF"80X1@?(0(;\,(`) M.22?'U:Q@UP`0!`B@X)5F)`+(@CB`&XLQ&2P\#X._"`AO,A!<8HRF##TKA#6 MF$(:<['$/^3""G"LH%4$Y8<&_N$-WBM$$MHAQC_(R/H/'WA#&W(AR#H*HI#O M^P$A,"(`,KHR!XOT0R,?&4DY_N%^?MC/'U0#24(T+""Y\`A79#``%W#1#Z7T M@QW_4,A/?L\%(D@`%TU@E?9-+I:S]$,OXV@5Y?E!!4L8P4^L1P@!R:!!9,B% M"024S&46LFV[,$$.EH`8!A0``#*0@`/EH<9L;E.2@L"7'ZJA@AT8`@VZ^((@ MEL`F/S2NG:?LHH.$(\_Q=2\7^L2F(&CY!VX*8@2365\C"R&$@6R@FB;2P0;> M0("!#&```ZEF!`82F3=@@0PIF$)DE*`'G.J@02,8"&M*M@$6#60Q?ZC!!GXZ ..ORE@00(D2!G6EA8(`#L_ ` end