2007'02.01.Thu
Achievo Acquires VisualSoft to Expand IT Services for Taiwan's Growing Economy

March 20, 2006

Adding Front-end Capabilities in Taiwan While Expanding Back-end Services in Jinan, China
DUBLIN and CALIFORNIA, March 20 /Xinhua-PRNewswire/ -- Achievo(R) Corporation, the leading global software and information technology outsourcing provider with a local front-end and China back-end service model, today announced that it has signed a definitive agreement to acquire VisualSoft Information System Corp., LTD. VisualSoft is a software and IT outsourcing company that provides Taiwanese companies with offshore outsourcing services. VisualSoft has customer relationship management expertise in manufacturing and financial services systems, and delivers application services to Citibank, First Commercial Bank, the Taiwan Business Bank, and other Taiwanese and multinational firms. Continuing its strategy of organic and acquisition-based growth, Achievo will leverage VisualSoft's front-end resources in Taiwan and operational resources in Jinan, China, to provide more services for Taiwanese and global clients. VisualSoft will be augmented by Achievo's global front-end and back-end capabilities in the United States, China, Japan and Germany. With this acquisition, Achievo adds an outsource development center in Jinan, in the province of Shandong, that has a staff of 80 engineers, programmers and developers. "We are delighted to have VisualSoft join the Achievo family," said Dr. Robert P. Lee, Achievo's chairman and CEO. "The Taiwanese economy has succeeded not only in economic growth, but also in technological expertise. The VisualSoft acquisition provides Taiwanese customers with additional resources and a reliable and scalable partner to develop and manage their software projects." "Joining Achievo enables us to rapidly scale our operations to accommodate new customers," said C.H. Wang, VisualSoft's general manager. "The additional resources give us a business structure capable of quickly and cost-effectively meeting the varied and diverse needs and requirements of our customers in Taiwan." VisualSoft will operate as a wholly-owned division of Achievo in Taiwan. Wang will become general manager of the Achievo VisualSoft Taipei division reporting to Lee. About VisualSoft Information System Corp., LTD VisualSoft Information System ( http://visualsoft.com.tw ) provides software and IT outsourcing services to Taiwanese and multinational firms in financial, healthcare and government industries. VisualSoft's technology expertise spans platforms such as Java, Microsoft .NET and Open Source. VisualSoft delivers application services to financial, manufacturing and government customers. VisualSoft has ties to major IT vendors as well as multinational financial and manufacturing services companies in Taiwan. Customers include Citibank, First Commercial Bank, Land Bank of Taiwan and Taiwan Business Bank. About Achievo Corporation Achievo is a global offshore software and information technology outsourcing provider with a local front-end and China back-end service model. With expertise in diverse technologies including Java/J2EE, .NET and embedded platforms, the CMM-certified company offers improved efficiencies, scale, diversification, and a combined talent pool to deliver cost-effective, quality-centric, and scalable IT outsourcing services to customers and partners worldwide. Customers include IBM, HP, Sun Microsystems, Netgear, Cadence, Accela, China Academy of Sciences, DaimlerChrysler, Ellie Mae, ESRI, Fujitsu, Mercedes Benz, Siemens, United Way, Hitachi, NEC, Pioneer, NTT Data, Toshiba and other Fortune 2000 companies. Headquartered in the Silicon Valley, Achievo has offices in the United States, Canada, Germany, China and Japan. For information on the company and its services, visit http://www.achievo.com . Achievo is a registered trademark of Achievo Corporation in the United States and in other countries. All other trademarks are the property of their respective owners. For more information, please contact: Brian Fawkes, Corp. Comm., Achievo Corporation Tel: +1-925-828-5990 x182 Email: brian.fawkes@achievo.com C.H. Wang, General Manager, Achievo VisualSoft Taipei Tel: +886-2273-86785 Email: ch.wang@achievo.com SOURCE Achievo Corporation
PR
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