TMCnet News
iSoftStone and Huawei form new joint ventureJan 25, 2013 (TELECOMWORLDWIRE via COMTEX) -- iSoftStone Holdings Ltd. (NYSE: ISS) and Huawei Technologies Co., Ltd. said they have completed the formation of iSoftStone Technology Service Ltd., a joint venture based in Wuhan, Hubei province, China. The new joint venture began operations January 24, 2013. In September 2012, iSoftStone announced the planned formation of the new joint venture that focuses on serving the technology and communications (T&C) industry. The new joint venture has registered capital of RMB 100 million, with 75% owned by iSoftStone and 25% owned by Huawei. As previously announced, iSoftStone has not contributed any US assets to the new joint venture. For additional information about the new joint venture, see the form 6-K that iSoftStone filed with the US Securities and Exchange Commission on September 4, 2012. Huawei is a leading global information and communications technology solutions provider. Through its dedication to customer-centric innovation and strong partnerships, Huawei has established end-to-end advantages in telecom networks, devices, and cloud computing. For more information, visit Huawei online at www.huawei.com. 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 business process outsourcing services. For more information, visit www.isoftstone.com. Comments on this story may be sent to [email protected] |