BEIJING, Jan. 19, 2020 /PRNewswire/ -- The Hong Kong subsidiary of China Electronics Corporation (hereafter "CEC") signed a Share Purchase Agreement (SPA) to acquire Pactera Group. According to the agreement, Pactera is now officially a member company of CEC.
Established in 1995, Pactera is an industry-targeted a leading IT solution company from China, with 25 years of history and nearly 30,000 employees, providing worldwide services covering digital consulting, experience interaction, technology implementation, and operations. By leveraging rich experience in sectors including high-tech, finance, manufacturing, telecom, and internet, Pactera has established long-term cooperative relationships with 154 Fortune 500 companies.
China Electronic Corporation (CEC), established in May 1989, is one of world-leading large scale electronics & IT corporations. CEC focuses on providing IT products and services, with strong industrial competitiveness and R&D capabilities. By the end of 2019, CEC now has 22 second level subsidiaries, 14 listed holding companies and over 150,000 employees, ranking among Fortune 500 Global Companies for consecutive years.
According to CEC, with global presence, abundant industry experience, stable corporate governance team, and strength in the IT application service field, Pactera will become a valuable addition to the portfolio of CEC.
As a member company of CEC, Pactera will leverage the robust resources and advantages of CEC to accelerate market expansion and business development. "We firmly believe that Pactera will have broader room to grow and add values to our clients," said Tiak Koon Loh, CEO of Pactera.