HiSoft Technology International Limited was a multinational information technology and business process

outsourcing Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and ...

company headquartered in

Dalian Dalian () is a major sub-provincial port city in Liaoning province, People's Republic of China, and is Liaoning's second largest city (after the provincial capital Shenyang) and the third-most populous city of Northeast China. Located on the ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

. Founded in 1996, HiSoft was listed on the

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

public exchange in 2010. In November 2012, the company merged with China-based IT outsourcing industry peer

VanceInfo VanceInfo (officially VanceInfo Technologies Inc.) is an IT outsourcing company headquartered in Beijing, China. It ranks first among Chinese offshore software development service providers for the North American and European markets as measured b ...

to form

Pactera Pactera Technology International Ltd., () is an IT consulting and outsourcing company with corporate headquarters in Beijing, China, and regional headquarters in North America, Europe, and Asia Pacific. The service areas of the company are ...

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 The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...

holding company had been formed with other units as wholly owned subsidiaries. They received venture capital funding from investors including

Draper Fisher Jurvetson Draper Fisher Jurvetson (DFJ) is an American venture capital firm focused on investments in enterprise, consumer and disruptive technologies. In January 2019, DFJ Venture, the early-stage team, spun out and formed Threshold Ventures. DFJ Growth ...

ePlanet Ventures,

GGV Capital GGV Capital is a global venture capital firm that invests in seed-to-growth stage investments across Consumer/New Retail, Social/Internet, Enterprise/Cloud and Smart Tech sectors. The firm was established in 2000 in Singapore and Silicon Valley, ...

, GE Commercial Finance,

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

Intel Capital Intel Capital is a division of Intel Corporation, set up to manage corporate venture capital, global investment, mergers and acquisitions. Intel Capital makes equity investments in a range of technology startups and companies offering hardware, so ...

JAFCO Asia , abbreviated as JAFCO is a investment holding company headquartered in the Toranomon district of Minato-ku, Tokyo, Japan. It is listed on the First Section of the Tokyo Stock Exchange. JAFCO is considered to be the oldest as well as largest V ...

, Mitsubishi UFJ Securities, and

Sumitomo Corporation is one of the largest worldwide ''sogo shosha'' general trading companies, and is a diversified corporation. The company was incorporated in 1919 and is a member company of the Sumitomo Group. It is listed on three Japanese stock exchanges ( ...

Equity Asia Limited. With their

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

of $64–$74 million in

American depositary shares An American depositary receipt (ADR, and sometimes spelled ''depository'') is a negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets. Shares of many non-U.S ...

on June 30, 2010, HiSoft became the 144th Chinese company to be listed on the

public exchange. In July 2011, hiSoft acquired NouvEON Technology Partners, based in

Charlotte, North Carolina Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...

. HiSoft acquired

BearingPoint BearingPoint (parent company: BearingPoint Europe Holdings B.V.) is an independent multinational management and technology consulting firm with 41 offices across 23 countries and around 4,300 employees. In 2021, the firm delivered 1,298 projects ...

Australia for an undisclosed sum in July 2012.

Operations

HiSoft delivered software development, globalization, testing, and maintenance services to customers in the Americas, Europe and Asia, with focus on

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

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. HiSoft's workforce grew from about 3000 at the end of 2007 to over 5000 in September 2010. HiSoft was the only Chinese company included on the 2010 Global Outsourcing 100 list of the International Association of Outsourcing Professionals, (in the list since its inception in 2006) and was in the top ten leaders in China, Japan. 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.

References

External links

hiSoft Official Website (English)
{{DEFAULTSORT:Hisoft Technology International Online companies of China Companies based in Dalian Software companies established in 1996 Software companies of China Companies formerly listed on the Nasdaq 1996 establishments in China Chinese brands

History

Operations

See also

References

External links