This is not the first time that Vince Haihui has committed himself to others. Since the merger of Pactera Information and Pactera Software was announced in August 20 12, the two software outsourcing enterprises have not achieved a strong alliance. On the contrary, like the outcome of many mergers and acquisitions, there were running-in and infighting, missed the golden stage of development, and finally changed from an industry leader to a fish pit.
Wensi Information and Haihui Software are two large-scale software outsourcing enterprises founded in the mid-1990s. Before the merger of the two companies, the sum of their peak market capitalization exceeded $4 billion.
At the beginning of the merger of 20 12, the combined market value of Sven and Haihui was only 800 million US dollars. Six months later, the market value of Pactera dropped to $587 million.
Chairman Chen Shuning said at the M&A meeting that it is not impossible for Pactera to create a market value of10 billion USD. The result is just empty talk.
"As long as employees who have worked in the original text for more than 3 years, both options and restricted stocks have different degrees of losses." Some employees said this.
20 13,10 In June, Vince Haihui announced that the company had agreed to a $625 million privatization offer initiated by a consortium led by Blackstone Group. According to investment bankers, it is the Singapore team that is responsible for the privatization of Pactera.
Coincidentally, Pactera CEO Lu Zhequn is also a Singaporean.
After harvesting his employees, Vince Haihui officially entered the Blackstone era. However, Blackstone is just a passing god, three years after launching the privatization offer. 20 16, 10 In June, Blackstone Group sold Vince Haihui to HNA Eco-technology Group under HNA Group for $675 million in cash.
This year 1 month, heavily in debt, HNA disposed of Vince Haihui for $750 million, which was not as good as the valuation at the beginning of the merger of 20 12 Vince Information and Haihui Software.
Pactera, which has changed hands many times, can hardly be called a high-quality asset, which is not only related to the current situation of China's software outsourcing industry, but also closely related to Pactera's long-term management quality.
In 20 16, the market scale of software outsourcing industry in China reached 21394.2 billion yuan, an increase of 2% compared with 20 14, and the growth rate dropped obviously. In 20 17, the scale of software outsourcing industry in China was 220.266 billion yuan, an increase of 2.96% compared with 20 16. In 20 18, the scale of software outsourcing industry in China reached 2312.8 billion RMB, an increase of 5% compared with 20 17.
20 15-20 18, the growth rate of the industry slowed down, and the whole outsourcing software industry fell into a deadlock of stock competition. Previously, leading enterprises began to distance themselves from the rankings.
According to the list of top 100 software enterprises in China released by the National Bureau of Statistics and the Ministry of Industry and Information Technology, Vince Haihui ranked 2 1 in 20 16, 25th in 20 17 and 26th in 20 18.
The smile faded away.
In June this year, 65438+ 10 19 and 20 19 were released, and Vince Haihui fell to 28th place, which seemed to be abandoned by the industry leaders. The old rivals of Pactera, such as ChinaSoft International and iSoftStone, have all entered the top 20 in the industry.
Before the merger of Pactera, iSoftStone and the two companies were almost neck and neck, but now they are stepping on their combination.
On the Internet, Vince Haihui is affectionately called "the juicer of IT industry" by many netizens, and squeezing employees has long been a corporate culture.
The 265438+20th Century Business Herald once wrote in the article "Investigation on Privatization of Vince Haihui: Decline of Merger", "It is a complete waste of youth here."
On China's largest platform for enterprise review, employer brand display and employee sharing, the comprehensive score of Vince Haihui is only 3.3, and that of its subsidiary Jin Xin Software is only 2.5. Most employees give negative comments, and their wages are generally lower than the industry average.
When we search for Vince Haihui on other media platforms, the related negatives are even more. Most voices accuse Vince Haihui of squeezing employees, not paying bonuses, not protecting employees' rights and interests in the contract, not paying or underpaying social security provident fund, taking up employees' holidays, and even favoring expatriate companies in case of disputes. ...
If you want to disintegrate the enemy, you must first start from the inside. For Vince Haihui, I don't know whether to try to disintegrate himself or simply regard employees as enemies. Companies with this style are bound to lose talents and win the competition.
Previously, Vince Haihui had reported that it would IPO again in Hong Kong stocks, and I don't know how many retail investors and shareholding employees would be pitted.
As the old saying goes, "People know manners only in granaries", and the moral decay of Vince Haihui has laid the groundwork since the day of merger.
* The article only makes objective analysis, and does not recommend the industry sectors and stocks involved in the article. The stock market is risky, so you need to be cautious when entering the market.