Pactera Technology To Be Acquired By Consortium Led By Blackstone

(RTTNews) - Pactera Technology International Ltd. (PACT) said it signed a definitive merger deal, under which it would be acquired by a consortium led by funds managed or advised by Blackstone. As per the agreement terms, upon completion of the deal, Pactera shareholders will receive $7.30 per share or $7.30 per ADS.

The price per Share and per ADS represents a premium of 39% over the Company's closing price of $5.26 per ADS on May 17, 2013, the last trading day prior to the Company's announcement on May 20, 2013 that it had received a "going private" proposal from a consortium led by Blackstone, and a premium of 35% to the volume-weighted average closing price of the ADSs during the 30 trading days prior to May 20, 2013.

Immediately following the completion of the deal, the Company will be beneficially owned by the Buyer Consortium and will result in the Company becoming a privately-held company and its ADSs will no longer be listed on the Nasdaq Global Select Market.