Chinese company buys Seattle consulting firm

Given the enormous liquidity in China plus the fierce urgency with which many Chinese companies want to climb the techology and marketing ladder, this is just the beginning of a powerful cross-border M&A trend.



This is also noteworthy because it signals a dawning appreciation among Chinese business people of the value of professional services and other intangible assets.



Here's the official press release:

Beijing, China and Seattle, Wash. — Feb. 28, 2008 — Today iSoftStone Information Service Corporation (iSoftStone) and Akona Consulting announced they have finalized an agreement whereby iSoftStone will acquire Akona Consulting, a business and technology consulting firm headquartered in Seattle, Wash., USA. With the acquisition of Akona, iSoftStone will significantly grow its United States operations and expand its core offerings into strategic business services which include research, business strategy, and interactive design.




“This combination allows us to strategically expand our business through Akona’s well respected presence in the United States,” said T.W. Liu, Chief Executive Officer of iSoftStone. “Our customers are continuously asking us to provide a combination of off-shore technology capabilities as well as local, on-site business consulting services. As such, we look forward to expanding our presence through Akona’s business service offerings as we grow globally, particularly in the United States and Europe.”