Top Qs
Timeline
Chat
Perspective
ISoftStone
Chinese IT Company From Wikipedia, the free encyclopedia
Remove ads
iSoftStone Information Technology (Group) Co., Ltd. (iSoftStone; Chinese: 软通动力; pinyin: Ruǎntōng Dònglì) is a publicly listed Chinese information technology company headquartered in Beijing.
Remove ads
Background
Summarize
Perspective
In 2001, iSoftStone was founded by MIT Sloan School of Management MBA graduate Liu Tianwen.[2][3]
iSoftStone initially focused on providing information technology consulting and outsourcing services where it served clients such as IBM, AT&T and Microsoft.[2][4] However it didn't compete with firms that focused on much large global projects such as Accenture, IBM or Hewlett-Packard.[4] Instead its competitions were mainly other Chinese firms as well as firms based in countries that had low wage costs.[2][4]
iSoftStone made several acquisitions in the US. In February 2008 it acquired Akona Consulting, a Seattle-based business and technology consulting firm.[2][3] In October 2010, it acquired Boston-based Ascend Technologies and in August 2011, acquired Adventier Consulting Group.[3]
In December 2010, iSoftStone held its initial public offering to become a listed company on the New York Stock Exchange (NYSE) where it raised $141 million.[2][4]
Due to declining performance and stock prices iSoftStone made the decision to go private.[5] In April 2014, it accepted an offer from China Everbright Investment Management to take it private in a $332 million deal and was eventually delisted from the NYSE.[6]
iSoftStone attempted to go public in China and made three backdoor listing attempts but they all failed. In early 2022, iSoftStone regained its status as a listed company by listing on the ChiNext section of the Shenzhen Stock Exchange. At this point, the majority of iSoftStone's revenue came from Chinese companies with almost 50% of it coming from Huawei.[5]
According to a report in December 2024 by Canalys, iSoftStone secured second place in the desktop and notebook shipment rankings in Q3 2024.[7]
Remove ads
See also
References
External links
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads