This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

VanceInfo Ranked Top China-based Offshore Software Development Vendor For North American And European Markets

Stocks in this article: VIT

BEIJING, June 7, 2011 /PRNewswire-Asia/ -- 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 the Company has been ranked number one with increased market share among China-based offshore software development vendors for Europe and North America as measured by 2010 revenues, according to International Data Corporation ("IDC"). This marks the fourth consecutive year that VanceInfo has been ranked number one by IDC in this category.

IDC is a leading global provider of market intelligence for the information technology, telecommunications, and consumer technology markets. The IDC research paper "China–Based Offshore Software Development 2011–2015 Forecast and Analysis" covers the current status of the China-based offshore software development market as well as vendor rankings. According to the study, IDC calculates that the China-based offshore software development market reached US$3.36 billion in 2010, an increase of 21.6% over 2009. Furthermore, IDC expects this market to grow at an accelerated pace of 24.2% compound annual growth rate ("CAGR") from 2010 to 2015, with business originating from European and North American clients expected to grow faster at 29.0% CAGR.

"IDC believes that the offshore model is a good choice for clients to reduce costs and improve efficiency. With the economic recovery, offshore clients will increase their IT spending to support the business, so the software development market will continue to increase at a stable rate.  At the same time, due to rich human resources, stable political and economic environments, excellent infrastructure, the global buyers are taking China as an important offshore alternative. After years of efforts, the China local vendors now have the capacity to provide standard services and some high-end services for their clients." said Joan Mao, Senior Market Analyst, IDC China.

Chris Chen, Chairman and Chief Executive Officer of VanceInfo, commented, "Our number one ranking for the fourth consecutive year is a strong corroboration of VanceInfo's position as the top China-based offshore software development company for North American and European markets. With the expectation of accelerated growth from this market segment, as projected by IDC, we are optimistic that we will continue to see exciting growth opportunities, leveraging our position as the top choice of North American and European customers seeking access to the vast talent pool in China. My thanks go to our employees worldwide for establishing a track record of sustainable market leadership, and to a growing list of global clients that have selected us as their key IT services provider."

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 2010 revenues, according to International Data Corporation. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs