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iSoftStone Completes $45 million Series B Financing
March 19th, 2007 No comments
iSoftStone Information Service Corporation, a leading IT outsourcing service provider in China, recently announced it has successfully raised $45 million Series-B Financing with Fidelity Asia Ventures, joined by Mitsui Ventures Global Fund, as well as previous investors AsiaVest Partners and InfoTech Pacific Ventures. Bocom Capital Partners acted as financial advisor to iSoftStone.
“The new round of financing will help further strengthen iSoftStone’s global reach and delivery capabilities, deepen and widen our vertical domain expertise, and accelerate our expansion into new business areas in ITO and BPO.” said Mr. T.W. Liu, iSoftStone’s Chairman and CEO. iSoftStone’s rapid expansion has been achieved primarily through organic growth as well as successful mergers and acquisitions. “What differentiate us from our competitors are our experienced leadership team, well-established resource management platform, keen focus on building vertical domains, and end-to-end service capabilities.” added Mr. Liu.
“We are very excited about China’s software outsourcing industry and believe iSoftStone has the most attractive attributes to succeed in this market,” added Mr. Daniel Auerbach, Managing Partner of Fidelity Asia Ventures. “We look forward to collaborating with management to build a world-class organization.”
AsiaVest’s General Manager of its Beijing office Mr. Peter Hsieh also commented, “AsiaVest is very proud of the progress iSoftStone has made after we led its Series A round a little over a year ago. We also welcome new investors Fidelity Asia Ventures and Mitsui Ventures as we believe them to be true value adding partners.”
iSoftStone Information Service Corporation is a leading IT outsourcing service provider in China. Headquartered in Beijing, iSoftStone has offices in the United States, Japan, Korea, as well as Chinese domestic presence in Wuhan, Shanghai, Dalian, Wuxi, Shenzhen and Tianjin.
iSoftStone is a CMMI Level 5 company and has been certified with ISO9001 and ISO27001(BS7799). iSoftStone has over 2,500 full-time employees.
For more information, please visit: www.isoftstone.com
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