BEIJING, April 11, 2012 /PRNewswire-Asia / -- iSoftStone Holdings Limited ("iSoftStone" or the "Company" , NYSE: ISS), a leading China-based IT services provider, today announced that, Beijing Guodian Ruantong Technology Co., Ltd. ("Guodian"), a subsidiary of iSoftStone, has acquired all of the assets, customer base and business of Nanjing Jiangchen Science & Technology Co., Ltd. ("Jiangchen"), a geographic information systems ("GIS") and smart grid software and solutions provider based in Nanjing, China.
The acquisition should broaden iSoftStone's industry coverage by adding power distribution to its existing electric power generation IT services business. Jiangchen helps China's top power distributors by applying its proprietary software products in GIS, smart grid systems, and energy saving services. Jiangchen is expected to enhance iSoftStone's energy industry solution portfolio to help major power distributors gain better insights into their business, and enhance customer satisfaction.
Mr. T.W. Liu, iSoftStone's Chairman & Chief Executive Officer, said, "The power industry favors larger IT solution providers with broad, deep, and integrated domain knowledge in both energy generation and distribution. This acquisition will broaden our array of IT capabilities in the energy vertical. We can now help major electric power distributors address their challenges and seize new opportunities."
About Jiang c henFounded in 2004, Jiangchen is a software development company specializing in GIS and smart grid solutions to the power distribution industry. About Guodian Guodian, a subsidiary of iSoftStone (NYSE:ISS), is a leading provider of IT software and solutions in power supply industry. About iSoftStone 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. The company focuses on industry verticals that include technology, communications, banking, financial services, insurance, energy, transportation, and public sectors. For more, please visit: www.isoftstone.com. iSoftStone safe harbor statement This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995.
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