Pactera Technology International to Purchase Innoveo Solutions

Pactera Technology International, a global consulting and technology services provider strategically headquartered in China, announced the acquisition of Innoveo Solutions AG, a Swiss based IT software product company, effective Jan. 1.

In a release on Jan. 24, the Company said that Innoveo will be renamed Pactera Switzerland AG in Q1 2014.

In October 2013, Pactera signed a definitive agreement under which the Company will be acquired by a consortium led by funds managed or advised by US-headquartered private equity investment firm Blackstone.

Pactera CEO Tiak Koon Loh said, "We are excited to have Innoveo join us to complement and empower our existing insurance practice with a team of technology and insurance experts and a new complementary solution offering. Innoveo Skye will allow us to extend our offerings in addition to our IT services practice and solution products. The establishment of our subsidiary in Switzerland also adds to our expanding footprint in Europe, which is both a regional client base and a target market for many of our clients in other regions."

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