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Seeweekly news
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2005-11-28 |
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Achievo to Acquire Jeyo Computer Technology Limited in Guangzhou |
Achievo Corporation, a CMM certified global software and IT outsourcing provider headquartered in Silicon Valley with operations in the U.S., Europe, Japan, and China, today announced the signing of a definitive agreement to acquire Jeyo Computer Technology Limited. Jeyo is a successful software and IT outsourcing service provider based in Guangzhou, the capital of the Guangdong Province and the largest city in South China. This transaction represents the continued execution of Achievo's global growth strategy with a focus on scaling its technical resource base in mainland China to serve global clients. Jeyo possesses expertise in a variety of industries including mobile phones, manufacturing, and telecommunication. Jeyo offers certified processes and expertise in wireless applications, business intelligence solutions, and IT services. Major customers include Guangdong Telecom, Huawei, IBM, Computer Associates, Microsoft, and Oracle. Upon completion of the acquisition, Jeyo will operate as a wholly-owned division of Achievo.
"Guangzhou has been a major center for China's international trade for over 300 years," said Raymond Tong, President of Achievo China. "Historically it is a metropolis for creative, driven, and cross-border-minded entrepreneurs who are at ease with exploring multi-national opportunities. Inbound foreign investments are substantial and broad based. Today, with a population of 10 million and a GDP of RMB250 billion, the Greater Guangzhou Area is clearly on a path to continue its double-digit annual GDP growth. It has a very large and growing base of software value-added activities supported by a well- established education infrastructure and engineering talents. Achievo looks forward to expanding its new Guangzhou development center and accessing the city's attractive technical workforce."
"This acquisition further expands Achievo's operations in China beyond its existing presence in Beijing, Shanghai, Dalian, and Shenzhen," said Dr. Robert P. Lee, Chairman and CEO of Achievo. "As Achievo has grown in the past year through strategic M&A transactions in the U.S., Japan, China, and Germany, the Jeyo acquisition will complement and further substantiate Achievo's worldwide service capabilities, technical expertise, and customer base."
"Since Jeyo was founded three years ago, our focus has been on building our position as a strong software and IT service provider based in Guangzhou," said Fox Hu, CEO of Jeyo Computer Technology Limited. "I am extremely proud of our team's dedication and success to date. Going forward, we are very excited to play a role in Achievo's global growth opportunities. We are already seeing our business increase as Achievo's clients are looking for outsourcing service support in this region. Guangzhou, as well as Achievo's new Jeyo Guangzhou Division, has a great deal to offer. We stand ready to provide the best software and IT outsourcing solutions on a global scale." |
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