Pactera in agreements with ChinaSoft on transfer of Huawei outsourcing business

BEIJING, CHINA: Pactera Technology International Ltd has entered into several agreements with ChinaSoft International Ltd and its affiliates under which the company will sell and transfer certain of its outsourcing business with Huawei, the company's major telecom client, to ChinaSoft and its affiliates.

In accordance with the Transfer Agreements, the company and its affiliates will sell, and ChinaSoft and its affiliates will purchase the Huawei Outsourcing Business to Transfer, including relevant business contracts, and the company and its affiliates will procure the transfer of relevant project teams.

In addition, the company and its affiliates will transfer to ChinaSoft and its affiliates certain assets and leases in connection with the Huawei Outsourcing Business to transfer.

The closing of the transactions contemplated by the Transfer Agreements is expected to occur in the first quarter of 2014.