HiSoft

Last updated
HiSoft Technology International Limited
Type Public
SEHK:  992; Nasdaq:  HSFT
IndustryIT Outsourcing
FoundedNovember 1996
Headquarters Dalian, China
Key people
Cheng-Yaw Sun (Chairman)
Tiak Koon Loh (CEO)
Website www.hisoft.com

HiSoft Technology International Limited was a multinational information technology and business process outsourcing company headquartered in Dalian, China. Founded in 1996, HiSoft was listed on the NASDAQ public exchange in 2010. [1] In November 2012, the company merged with China-based IT outsourcing industry peer VanceInfo to form Pactera.

Contents

History

HiSoft was founded in 1996 as Dalian Haihui Sci-Tech Co., Ltd. In 2002, the company established a Japan-based subsidiary, Haihui Sci-Tech Japan Co., Ltd., later renamed HiSoft Japan Co., Ltd. In 2004, HiSoft Technology International Limited, a Cayman Islands holding company had been formed with other units as wholly owned subsidiaries. [2] They received venture capital funding from investors including Draper Fisher Jurvetson ePlanet Ventures, GGV Capital, GE Commercial Finance, International Finance Corporation, Intel Capital JAFCO Asia, Mitsubishi UFJ Securities, and Sumitomo Corporation Equity Asia Limited. [3]

With their initial public offering of $64–$74 million in American depositary shares on June 30, 2010, HiSoft became the 144th Chinese company to be listed on the NASDAQ public exchange. [1] [4] In July 2011, hiSoft acquired NouvEON Technology Partners, based in Charlotte, North Carolina. [5] HiSoft acquired BearingPoint Australia for an undisclosed sum in July 2012. [6]

Operations

HiSoft delivered software development, globalization, testing, and maintenance services to customers in the Americas, Europe and Asia, with focus on Fortune 500 firms in the telecommunication, software, financial services, pharmaceutical and manufacturing sectors. For 2009, the company reported approximately 35% of HiSoft's clients were Fortune 500, representing over 55% of revenue. They also reported 60% of their clients from US and Europe, 30% from Japan, and 10% from China. [2] HiSoft's workforce grew from about 3000 at the end of 2007 to over 5000 in September 2010. [7]

HiSoft was the only Chinese company included on the 2010 Global Outsourcing 100 list of the International Association of Outsourcing Professionals, [8] (in the list since its inception in 2006) and was in the top ten leaders in China, Japan. [9]

In addition to acquiring Envisage, Ensemble International and Teksen Systems, hiSoft established operations in the US, Singapore and Japan through acquisitions, partnerships and joint ventures.

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References

  1. 1 2 "HiSoft is the 144th China-based Company to List on the NASDAQ". News release. The NASDAQ OMX Group. July 8, 2010. Retrieved June 11, 2013.
  2. 1 2 "HiSoft Technology International Limited". F-1 prospectus. June 17, 2010. Retrieved June 11, 2013.
  3. ↑ "Investors". Company web site. Archived from the original on January 9, 2008. Retrieved June 11, 2013.
  4. ↑ "HiSoft Technology International Limited Announces Pricing of Initial Public Offering on the NASDAQ Global Market". Press release. June 30, 2010. Archived from the original on March 2, 2012. Retrieved June 11, 2013.
  5. ↑ "hiSoft Acquires U.S.-based IT Consulting Firm, Nouveon Technology Partners, Inc". Press release. July 8, 2011. Archived from the original on July 22, 2011. Retrieved June 11, 2013.
  6. ↑ "BearingPoint buyout gives HiSoft a toehold". The Australian. September 25, 2012. Retrieved June 11, 2013.
  7. ↑ "HiSoft Technology International Limited". F-1 prospectus. November 22, 2010. Retrieved June 11, 2013.
  8. ↑ "The 2010 Global Outsourcing 100". International Association of Outsourcing Professionals. Archived from the original on December 24, 2010. Retrieved June 11, 2013.
  9. ↑ "The 2010 Global Outsourcing 100: Sub-Lists". International Association of Outsourcing Professionals. Archived from the original on February 27, 2011. Retrieved June 11, 2013.
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