34) HiSoft Sells Software abroad to Roll on NASDAQ

HiSoft intends to become the initial East Asian software exporter pu onto the National Association of Securities Dealers Automated Quotations (NASDAQ) at the end of the year.

"We are in the preparation intended for portion submission & hope that we could achieve the aim to be listed in the last section of this year or earlier than next March," stated Loh Tiak Koon, the CEO of HiSoft.

Currently, the headcounts of HiSoft are over 2,300 in America, Japan, and China. It provides services including development, consulting and application testing for clients such as Symantec Corp and Microsoft Corp. Hisoft hopes that the number of its employees can reach nearly five thousand by the conclusion of the year 2008.

Hisoft is part of China’s firms which wants to become an international outsourcing service supplier. Facing rising labor costs and employee turnover rates in India, multinational companies (MNCs) have been considering China for a recent location to implement inexpensive information technology assistance. “China is currently the runner up to number one in favored offshore subcontracting location.” says an industry insider.

Founded in 1993, HiSoft obtained tens of millsions of dollars in its speculation since American endeavor asset companies such as Intel Capital, Granite Global Ventures as well as ePlanet Ventures. In addition, the two Silicon Vally forceful endeavor companies Sequoia Capital as well as DCM made an investment of $30,000,000 USD to Worksoft Creative Software Technology, a Beijing located Information Technology subcontracting enterprise.