Pactera Technology International Ltd. (NASDAQ: PACT) said that the special committee of the board of directors has received an offer from a consortium to acquire all of the outstanding shares of Pactera in a going private transaction for USD7.00 per American Depositary Share in cash.
The consortium consists of an affiliate of funds managed or advised by The Blackstone Group; members of the company´s management comprising Chris Chen, the company´s non-executive chairman, Tiak Koon Loh, the company´s chief executive officer, and David Chen, Sidney Huang, Jun Su, He Jin, Chu Tzer Liu, Jian Wu, Junbo Liu, Jinsong Li and Minggang Feng; and Granite Global Ventures II L.P. and GGV II Entrepreneurs Fund L.P.
The offer adjusted down the proposed price of USD7.50 per ADS in the buyer consortium´s non-binding proposal received by the board of directors of the company on May 20, 2013.
Pactera Technology International, formed by a merger of equals between HiSoft Technology International Ltd. and VanceInfo Technologies Inc., is a global consulting and technology services provider strategically headquartered in China. For more information about Pactera, visit www.pactera.com.