BEIJING (XFN-ASIA) - IT outsourcing firm Achievo Corp said it has entered into a definitive agreement to merge with China software development firm Beijing Beifang Xinyu Information Technology Co Ltd (BBX).
Following the merger, BBX will become a wholly owned division of Achievo.
With 450 employees, the merger represents Achievo's largest acquisition in terms of headcount, Achievo said in a statement.
The Silicon Valley-based firm did not provide financial details regarding its acquisition of BBX.
Beijing BBX provides software development and IT services to Japanese companies with offshore outsourcing services in China.
Achievo's customers include IBM, HP, Sun Microsystems, China Academy of Sciences, DaimlerChrysler, Fujitsu, Mitsubishi and Siemens, among others.
Achievo has offices in the US, Canada, Germany, Greater China and Japan.
john.bishop@xinhuafinance.com
© 2006 AFX News
