ISoftStone Acquires Ascend Technologies

The China-based BPO provider expects the buy to boost its offerings to insurers and other financial services providers.

Beijing-based iSoftStone has acquired Boston-based Ascend Technologies, a provider of business and IT consulting, system integration and business process improvement services to financial services clients.

Ascend's specialties include capital markets, asset management, risk management and compliance, with expertise in consulting and project management IT strategy and business process optimization, the companies say in a statement. ISoftStone expects Ascend to complement its existing IT and BPO services, and Ascend clients will gain access to iSoftStone's China-based services.

"Since our founding in 2001, we have focused on the banking and financial services industries, and we are excited about adding Ascend's consulting and project management capabilities and longstanding client relationships to our global banking, financial services and insurance industry practice," TW Liu, chairman and CEO of iSoftStone, says in a statement. "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."

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio