Achievo Becomes One of the Largest Overseas Offshore Software Outsourcing Companies in China with BBX Merger

Achievo Becomes One of the Largest Overseas Offshore Software Outsourcing Companies in China with BBX Merger

August 07, 2006

    SAN RAMON, Calif., Aug. 7 /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
a definitive agreement to merge with Beijing Beifang Xinyu
Information Technology Co., Ltd. (BBX). With 450 employees,
this merger represents Achievo's largest acquisition by
headcount, and with over 90% of its revenues from outside
China, it positions Achievo as one of the biggest
independent overseas offshore software outsourcing
businesses in China.

    BBX provides software development and IT services to
Japanese companies with offshore outsourcing services in
China. BBX is noted for its expertise in finance,
telecommunications, manufacturing, government and other
industries. The merger further strengthens Achievo's
presence in Japan through BBX's established relationships
with customers that include NEC, Nomura, Toshiba and
Hitachi.

    "Achievo proudly welcomes BBX's 450 employees to
the Achievo family," said Dr. Robert P. Lee, Achievo's
chairman and chief executive officer. "The level of
experience, knowledge and skill these professionals bring
to our organization is first rate. Moreover, the principals
of BBX have worked in Japan and have a strong understanding
of Japanese business. In addition to deepening Achievo's
talent pool, the merger will provide opportunities for BBX
and Achievo to expand our reach and ability to service more
customers, while positioning ourselves to serve BBX clients
even better."

    When the merger is completed, BBX will be a wholly
owned division of Achievo Corporation. Shiqing Wang, BBX's
chief executive officer, will be general manager of Achievo
BBX. He and his management team will continue to be
responsible for the operation of Achievo BBX. Mr. Wang will
report to Dr. James C. Li, general manager of the Achievo
Japan Business Group. Achievo BBX and its employees will
continue to be located in Beijing, China; Dalian, China;
and Tokyo, Japan.

    BBX is the third merger Achievo has completed in the
last two years of software development companies whose
business mainly originates from and in Japan. Last year
Achievo acquired Advanced Network Services (ANS) Group, now
Achievo ANS. This year Achievo acquired Shanghai Wintech
Software Co., Ltd., now Achievo Wintech. In March 2006, the
employees of Global Friends Network, a Tokyo-based software
and IT firm that provided software development and quality
assurance services to Japanese companies, joined Achievo.

    "The Achievo BBX division gives us our second
major office in Beijing," said Dr. Lee. "With
Beijing being such a big city, we need both facilities to
service our clients and accommodate our employees. This is
an amazing expansion and a historic milestone for the
company. Achievo is now one of the biggest truly global
offshore software outsourcing businesses in China, with
most of our revenues directly from North America, Europe
and Japan. Software outsourcing is a major focus industry
for China. We are  very privileged to be able to
participate in such an important initiative of the Chinese
government."

    About BBX 

    BBX was founded in 1999. The company is located at 4th
Floor, IT-Center Building, No. 315 GuangAnMenNei Street,
Xuanwu District, Beijing, China, 100053. The company also
has divisions in Tokyo, Japan and Dalian, China that
provide solutions for Japan software outsourcing customers.
BBX can be reached at +86 01.6369.1800.8025, on the web at
http://www.bbx.com.cn , or via e-mail at
[e-mail] .

    About Achievo
 
    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, Audi, Fujitsu, Mercedes
Benz, Mitsubishi, Siemens, United Way, Hitachi, NEC,
Pioneer, NTT Data, Nomura, Toshiba and other Fortune 2000
companies. Headquartered in the Silicon Valley, Achievo has
offices in the United States, Canada, Germany, Greater China
and Japan. For information on the company and its services,
visit http://www.achievo.com .

    (C) 2006 Achievo Corporation. All rights reserved.
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:

     Jayme Curtis, Public Relations
     Achievo Corporation
     Tel:    [phone]
     Email:  [e-mail]

SOURCE  Achievo Corporation