iSoftStone, Huawei Launch Joint Venture

In a press statement released Wednesday, Chinese IT company iSoftStone (NYSE: ISS  ) announced that it has completed its planned joint venture, called iSoftStone Technology Service Limited, with Chinese telecom company Huawei.

iSoftStone first announced the planned joint venture, which will serve the technology and communications industry, in September. Seventy-five percent of the new venture will be owned by the company, with Huawei owning the remaining 25%; the joint venture begins operations today.

Chairman and CEO of iSoftStone T.W. Liu, who will act in the same roles for the new joint venture, was quoted in the press release as saying "The new joint venture fuses Huawei's excellent practices in management and its leading position in the [information and communications technology] market with iSoftStone's accumulated vertical depth in technology and communications services."

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2213212, ~/Articles/ArticleHandler.aspx, 9/23/2014 6:27:44 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement