Vance Info has announced the acquistion of Wireless Info Tech (WIT), a California company that specializes in mobile testing and application development services.

The deal will allow Vance Info to expand its onshore delivery capabilities and improve the firm's position in outsourcing services for the rapidly expanding mobile sector.

The Beijing-based company reportedly agreed to pay an initial consideration of $1.08 million in cash and grant certain restricted stock for WIT. Additional contingent considerations will be paid based on WIT's financial performance over the next 24 to 30 months.

"We are excited to welcome this highly skilled team into the Vance Info family as we continue to carry out our investment strategy in the wireless sector", said Chris Chen, Chairman and Chief Executive Officer of Vance Info. According to Chen, the "combination of [VanceInfo's] offshore capabilities and WIT's onshore engagement team will help us better serve our clients' needs".

The lucrative WIT generated approximately $3 million in net revenues over an eight month period that ended 31 August, 2008.  X