iSoftStone Announces the Acquisition of Ascend TechnologiesBy Isoftstone Information Technology group Co. Limited, PRNE
Wednesday, October 13, 2010
Acquisition Strengthens iSoftStone's IT & Business Consulting Capabilities in the Banking & Financial Services (Including Insurance) Industries
BEIJING, October 14, 2010 - iSoftStone Information Technology (Group) Co. Limited, a leading
China-based provider of consulting & solutions, IT services and business
process outsourcing (BPO) services, announced today that it has acquired
Ascend Technologies. Ascend, founded in 2001 by Karl Pessinis and Dan
MacKinnon, is a provider of IT services and business consulting services to
global banking and financial services (including insurance, collectively
"BFSI") clients, with offices in Boston, MA and New York, NY, USA. With the
addition of Ascend, iSoftStone continues to expand its global BFSI industry
practice to include IT and business consulting, complementing its existing IT
services and BPO services offering. Through iSoftStone's approximately 10,000
China-based employees, Ascend's clients now have access to iSoftStone's broad
range of IT development and BPO services, delivered from China.
(Logo: photos.prnewswire.com/prnh/20070316/CNF016LOGO ) (Logo: www.newscom.com/cgi-bin/prnh/20070316/CNF016LOGO )
Ascend provides business consulting, IT consulting, system integration
and business process optimization to global Fortune-500 clients in the
banking and financial services (including insurance) industries. With a
client-facing presence in two important U.S. financial centers, Boston, MA
and New York, NY, Ascend's historic industry concentrations have included
capital markets, asset management, risk management and compliance, with
expertise in consulting and project management IT strategy and business
"iSoftStone is very pleased to welcome Ascend to our company. Since our
founding in 2001, we have focused on the banking and financial services
industries, and we are excited about adding Ascend's consulting and project
management capabilities and longstanding client relationships to our global
BFSI industry practice. Furthermore, as a China-based global company, we
value Ascend's culture, and we look forward to working closely with our new
colleagues from Ascend to jointly deliver increasing value to our clients,"
said TW Liu, Chairman & CEO of iSoftStone. "We believe the addition of
Ascend's capabilities is timely as many global banking and financial
institutions are increasingly seeking to work with China-based providers for
IT and BPO services."
Karl Pessinis, President of Ascend, said, "Ascend is excited about
becoming part of iSoftStone, a leading China-based IT services provider.
Having served banking & financial services clients in partnership with other
"offshore" providers in the past, we believe that becoming part of iSoftStone
positions us to offer our clients a full-service offering, from consulting to
China-based IT services and BPO, with a highly-regarded partner with its own
track record for success with clients in our target industries."
Founded in 2001, iSoftStone is a leading China-based IT services provider
serving both Greater China and global clients. iSoftStone provides an
integrated suite of IT services and solutions including Consulting &
Solutions, IT Services and BPO services. iSoftStone was certified CMMI Level
5 in 2006, and is certified ISO9001 and ISO27001, and focuses on key client
industry verticals including technology, communications, banking, financial
services and insurance and energy, transportation and public sector. For more
information, please visit www.isoftstone.com .
About Ascend Technologies
Ascend Technologies is a provider of business and IT consulting, system
integration and business process improvement services to leading clients in
the global banking, financial services and insurance industries. With offices
in Boston, MA and New York, NY, Ascend engages in consulting and project
management services critical business and technology requirements.
iSoftStone: Sophie Yang, +86-10-5874-9169, jhyang at iSoftStone.com; or Karl Pessinis of Ascend Technologies, +1-781-250-2601, kpessinis at ascendconsult.com
Tags: Beijing, China, Isoftstone Information Technology (group) Co. Limited, October 14, United Kingdom