MEDIA RELEASE PR38779
ISG Announces Extension of Contract to Aid Outsourcing Development in China
STAMFORD, Conn., Mar. 18 /PRNewswire-AsiaNet/ --
Business unit TPI will help Shanghai satellite create financial
services outsourcing hub
Information Services Group, Inc. (ISG) (Nasdaq: III, IIIIU, IIIIW), an
industry-leading information-based services company, announced that its
business unit TPI, the largest sourcing data and advisory firm in the world,
today signed an extension of its agreement to help Huaqiao become the hub of
financial services outsourcing in China.
The new contract runs through 2010 with optional extensions through 2012.
Financial terms were not disclosed.
"TPI is making a great contribution to Huaqiao and Kunshan Province,"
said Zhang Guohua, Kunshan Party Secretary. "Our cooperation with TPI is
helping Huaqiao optimize the structure of our outsourcing industry, raise its
profile and accelerate its growth."
Added Ren Xueyuan, director of the Huaqiao Economic Development Zone: "We
could not have reached this agreement without the focus, long-term
perspective and commitment to mutual benefit of TPI."
Since September, TPI has been working with Huaqiao to create China's
first operating protocols and standards for outsourcing industry
participants. The protocols and standards, which will address issues such as
business setup, data privacy, intellectual property, measurement and
reporting systems and training and education, are designed to increase the
city's appeal to global sourcing buyers, service providers setting up
delivery centers and global corporations building captive or shared services
centers.
Huaqiao is an economic development zone dedicated to services
outsourcing. The Huaqiao International Service Business Park, located just
12.4 miles (20 km) east of central Shanghai, is expected to employ 300,000
people and produce US$15 billion in annual revenue within five to 10 years.
Said Michael P. Connors, Chairman and CEO, ISG and TPI, "We are excited
about strengthening our relationship with Huaqiao and continuing our work
together at the edge of this critical new frontier for the sourcing industry.
China has a tremendous opportunity in financial services outsourcing, and
Huaqiao and TPI are in a prime position to lead the development of that
market."
About TPI
TPI, a unit of Information Services Group, Inc. (ISG)
(Nasdaq: III, IIIIU, IIIIW), is the founder and innovator of the sourcing
advisory industry, and the largest sourcing data and advisory firm in the
world. We are expert at a broad range of business support functions and
related research methodologies. Utilizing deep functional domain expertise and
extensive practical experience, our accomplished industry experts collaborate
with organizations to help them advance their business operations through the
best combination of business process improvement, shared services,
outsourcing and offshoring. For additional information, visit www.tpi.net.
About Information Services Group, Inc.
Information Services Group, Inc. (ISG) (Nasdaq: III, IIIIU, IIIIW) was
founded in 2006 to build an industry-leading, high-growth, information-based
services company by acquiring and growing businesses in advisory, data,
business and media information services. In November 2007, the company
acquired TPI, the largest independent sourcing advisory firm in the world.
Based in Stamford, Conn., ISG has a proven leadership team with global
experience in information-based services and a track record of creating
significant value for shareowners, clients and employees. For more, visit
SOURCE: Information Services Group, Inc.
CONTACT: Andrew Park, TPI,
+1-919-259-9252,
andrew.park@tpi.net;
or Rhena Wallace, Cohn & Wolfe for TPI,
+1-212-798-9832,
rhena.wallace@cohnwolfe.com
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