Pactera Technology International Ltd, China’s largest technology outsourcing firm, announced that it has received a $680.3 million go-private proposal jointly from Blackstone Group and a consortium comprising of the company’s key executives.  Accordingly, the company has engaged J.P. Morgan Securities (Asia Pacific) Limited as its financial advisor. The firm will be assisting the company’s Special Committee in its evaluation of the Proposed Transaction and any potential alternative transactions.

On being advised by Blackstone Group, the consortium submitted a proposal to acquire all of the outstanding shares of Pactera not currently owned by consortium members. The consortium is comprised of the Company's non-executive chairman, Chris Chen, its chief executive officer, Tiak Koon Loh, and its executive committee members, David Chen, Sidney Huang and Jun Su. The Special Committee of the Board of Directors was formed to consider various aspects of the proposal.

According to a news statement, the Special Committee has not yet taken any definitive decision regarding the proposal. In the absence of any confirmation from the company’s side, it will be imprudent to assume that any definitive offer will be made in the near future. Similarly, there is no assurance that any agreement will be executed on the basis of the proposed or other transactions.

Through its vast network of onsite and offsite delivery locations in China, the United States, Europe, Australia, Japan, Singapore and Malaysia, Pactera provides world-class business / IT consulting, solutions, and outsourcing services to a wide range of leading multinational firms. Pactera's service offerings includes business and technology advisory, enterprise application services, business intelligence, application development & maintenance, mobility, cloud computing, infrastructure management, software product engineering & globalization, and business process outsourcing services. Recently the company reported that its unaudited financial results for the first quarter of 2013 ended March 31. The company revealed that its net revenues for the first quarter of 2013 were $152.3 million, as compared to $65.5 million for the first quarter of 2012.