iSoftStone
| File:ISoftStone.png | |
| File:Headquarters of iSoftStone at ZPark Phase II (20250912172928).jpg Headquarters | |
Native name | 软通动力信息技术 (集团) 股份有限公司 |
|---|---|
| Company type | Public |
| SZSE: 301236 | |
| Industry | Information technology |
| Founded | October 2001 |
| Founder | Liu Tianwen |
| Headquarters | Beijing, China |
Key people | Liu Tianwen (Chairman & CEO) |
| Revenue | Decrease CN¥17.58 billion (2023) |
| Decrease CN¥486.71 million (2023) | |
| Total assets | Increase CN¥15.62 billion (2023) |
| Total equity | Increase CN¥10.60 billion (2023) |
Number of employees | 85,470 (2023) |
| Footnotes / references [1] | |
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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.
Background
[edit | edit source]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]
See also
[edit | edit source]References
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External links
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- Global website
