HiSoft Technology International Limited was a
multinational information technology and business process
outsourcing 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 ...
,
China.
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 to form
Pactera.
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.
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 o ...
,
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, ...
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 Vent ...
, 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 investme ...
of $64–$74 million in
American depositary shares on June 30, 2010, HiSoft became the 144th Chinese company to be 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 July 2011, hiSoft acquired
NouvEON Technology Partners, based in
Charlotte, North Carolina
Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...
.
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.
See also
*
Software industry in China
The software industry in China is the business of developing and publishing software and related services in China. The size of the industry including software and information services in 2013 was worth 3060 billion RMB (about $493 billion) accor ...
*
China Software Industry Association The China Software Industry Association (CSIA) is the major representative and one of the most active associations in the China software industry. Its goal is to promote the development of software industry in China and provide a hub with oversea ...
*
Dalian Software Park
Dalian Software Park (), also called DLSP, is an industrial zone, created in 1998 in the western suburbs of Dalian City, Liaoning Province, China, where many of the world's large and medium-sized IT-related companies have set up shop to do soft ...
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