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October 14, 2010

iSoftStone acquires Ascend Technologies

Strengthens banking, financial and insurance industry practice

By CBR Staff Writer

iSoftStone Information Technology (Group), a China-based IT and business process outsourcing (BPO) services provider, has acquired Ascend Technologies.

Ascend provides IT and business consulting services to banking and financial services (including insurance, collectively "BFSI") clients, with offices in Boston and New York.

iSoftStone said that with the addition of Ascend, it continues to expand its BFSI industry practice to include IT and business consulting, complementing its existing IT services and BPO services offering.

With the acquisition, Ascend’s clients will now have access to iSoftStone’s IT development and BPO services, delivered from China.

iSoftStone chairman and CEO TW Liu said the company is excited to add Ascend’s consulting and project management capabilities and longstanding client relationships to its global BFSI industry practice.

"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," Liu said.

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