Chinese company acquires Swiss IT start-up

Innoveo is now a fully owned entity of Pactera and will be renamed Pactera Switzerland AG in Q1 2014, establishing an additional base for Pactera to serve a broad list of clients in the region. Innoveo's industry leading front-end insurance multi-channel sales solution, Innoveo Skye, enables insurance companies to launch new products and build attractive product and services bundles, reacting quickly to competitor offerings. The solution has been deployed globally and is helping customers in multiple regions to reduce time to market.

Starting as a strategic initiative of the Helvetia Insurance Group in September 2000, with the support of an experienced technology partner, a first release of an insurance-specific sales and distribution platform was launched in February 2002. In 2007 a spin-out was agreed and Innoveo Solutions AG founded. The company was privately owned by its employees.

The new solution adds to Pactera's existing set of industry leading banking, financial services and insurance (BFSI) solutions and extensive domain knowledge foundation. The Company provides services and solutions to leading global financial institutions in North America, Europe, Japan, Singapore, Australia, and China. In the China market, Pactera's Customer Relationship Management (CRM) banking solution is ranked number one and its Business Intelligence (BI) banking solution is ranked number two based on revenues.

Pactera CEO Tiak Koon Loh commented, "We are excited to have Innoveo join us to complement and empower our existing insurance practice with a team of technology and insurance experts and a new complementary solution offering. Innoveo Skye will allow us to extend our offerings in addition to our IT services practice and solution products. The establishment of our subsidiary in Switzerland also adds to our expanding footprint in Europe, which is both a regional client base and a target market for many of our clients in other regions."

About Pactera
Pactera Technology International Ltd. (NASDAQ: PACT), formed by a merger of equals between HiSoft Technology International Limited and VanceInfo Technologies Inc., is a global consulting and technology services provider headquartered in China. Pactera provides world-class business / IT consulting, solutions, and outsourcing services to a wide range of leading multinational firms through a globally integrated network of onsite and offsite delivery locations in China, the United States,Europe, Australia, Japan, Singapore and Malaysia.