[July 03, 2009] VanceInfo acquires Hong Kong-based CRM provider Tweet (Corporate IT Update Via Acquire Media NewsEdge) VanceInfo Technologies Inc (NYSE:VIT) said today that it has acquired the operating subsidiaries of Hong Kong-based TP Corporation Limited, a provider of Customer Relationship Management solutions and call centre services. Under the agreement, VanceInfo, an IT service provider and an offshore software development company in China, will pay an initial consideration of around USD1.1m in cash for TP with additional payments contingent on TP's financial performance in the next 18 to 30 months. The estimated revenues of TP for the five months ended 31 May 2009 are approximately USD3.9m. The company has some 25,000 CRM software licences installed in the telecoms, financial services and government sectors. ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]