Chinese IT services provider VanceInfo Technologies Inc (NYSE:VIT) said it has acquired the operating subsidiaries of TP Corporation Ltd, a Hong Kong-headquartered provider of customer relationship management (CRM) software and call center services.
VanceInfo will pay an initial US$1.1 million in cash and will pay an undisclosed further amount based on TP's financial performance in the next 18 to 30 months.
Headquartered in Hong Kong, TP develops and markets customer care software products in China and Southeast Asia and provides call center outsourcing services in Hong Kong. For the five months ended May 31 2009, the estimated revenues of TP are approximately US$3.9 million.
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