VanceInfo (officially VanceInfo Technologies Inc., formerly known as Worksoft) is an IT

outsourcing Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another ...

company headquartered in

Beijing Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...

, China. It ranks first among Chinese offshore software development service providers for the North American and European markets as measured by 2010

revenues In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue ...

. The service areas of the company are in tech, telecom, finance, travel, manufacturing, retail and logistics. In November 2012, the company merged with China-based IT outsourcing industry peer

HiSoft HiSoft Technology International Limited was a multinational information technology and business process outsourcing company headquartered in Dalian, China. Founded in 1996, HiSoft was listed on the NASDAQ public exchange in 2010. In November 2 ...

to form

Pactera Pactera Technology International Ltd., () is an IT consulting and outsourcing company with corporate headquarters in Beijing, China, and regional headquarters in North America, Europe, and Asia Pacific. The service areas of the company are i ...

History

The company was founded in 1995 as Worksoft and started its long-term relationship with IBM. The company added an office in Dalian in 2004, and in that same year signed a contract with Unicom-BREW and built the

PeopleSoft PeopleSoft, Inc. was a company that provided human resource management systems (HRMS), financial management solutions (FMS), supply chain management (SCM), customer relationship management (CRM), and enterprise performance management (EPM) softw ...

China Development Center. In the next year important achievements included the building of the TIBCO China Development Center and selection as a Microsoft Preferred Vendor and built its China Offshore Development Centers in Shanghai and Beijing. In the same year, the company expanded by acquiring SureKAM and the US-based Siebel consultancy Envisys, and secured financing from funding by Hao Chen,

Legend Capital Legend Holdings Corporation () is a Chinese investment holding company with interests in finance, real estate, and information technology, and the controlling shareholder of its better-known associate company, the Lenovo Group. Formed by the Chin ...

and Rob Theis, Doll Capital Management (DCM). More venture capital funding followed in 2006 from Kui Zhou and Doug Leone of

Sequoia Capital Sequoia Capital Operations, LLC is an American venture capital firm headquartered in Menlo Park, California, specializing in seed stage, early stage, and growth stage investments in private companies across technology sectors. the firm had appro ...

. The company also in 2006 acquired China-based Prosoft Technology. In 2007 the company changed its name to VanceInfo and went public on the NYSE, and opened offices in the US in Seattle, Washington and New York. The company emerged in the backdrop of partisan political bickering in the US state of

Ohio Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...

in 2010–2011. A group of state representatives allied with

Service Employees International Union Service Employees International Union (SEIU) is a labor union representing 2 million workers in over 100 occupations in the United States, Canada, and Puerto Rico. SEIU is focused on organizing workers in three sectors: healthcare (over half of m ...

District 1199, a branch of a major trade union, pointed out that Mark Kvamme, a political appointee put in charge of creating jobs in Ohio, was a partner in Sequoia Capital, which had invested in VanceInfo. The state representatives and union branded Kvamme as unfit for the role of creating jobs in the state since he was tied to VanceInfo, an outsourcing company, through his stake in Sequoia CapitalJobsOhio may give Kvamme new role in Kasich administration
" Columbus Dispatch, 6/22/2011

Notes

{{IT consulting and outsourcing companies of China Companies formerly listed on the New York Stock Exchange Companies based in Beijing Business process outsourcing companies Technology companies established in 1995 Outsourcing companies 1995 establishments in China

History

See also

Notes