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Orrick, Herrington & Sutcliffe LLP
08/10/2012 | Press release
Orrick Advises VanceInfo in US$875 Million All-Stock Merger with hiSoft Technology
distributed by noodls on 08/11/2012 09:23
Orrick Advises VanceInfo in US$875 Million All-Stock Merger with hiSoft Technology
08-10-2012
New York - Orrick, Herrington & Sutcliffe LLP is representing VanceInfo Technologies Inc. in its tax-free, all-stock merger of equals with hiSoft Technology International Limited, valued at US$875 million.
Creating the largest China-based offshore IT services provider, this deal represents one of the largest mergers between two Chinese companies listed in the United States. VanceInfo is listed and traded on the NYSE while the stock of hiSoft is listed and traded on NASDAQ.
Under the terms of the agreement, VanceInfo and hiSoft shareholders will each own approximately 50% of the combined company. hiSoft will be the surviving listed company in the merger, and its shares will continue to be listed on the NASDAQ Global Select Market. A new name for the combined company will be announced in due course.
The Orrick team is led by Shanghai capital markets partner Jeffrey Sun and San Francisco mergers and acquisitions and private equity partner Richard Vernon Smith and includes Hong Kong mergers and acquisitions and private equity partner Maurice Hoo, Hong Kong corporate managing associate Catarina Cardoso, Shanghai corporate associate John Li, Shanghai consultant Daisy Chen, San Francisco compensation & benefits partner Juliano Banuelos, San Francisco compensation & benefits senior associate Jason Flaherty and San Francisco tax partner Grady Bolding.
Contact
For more information, please contact us by e-mail pr@orrick.com or telephone at
415-773-5972.
