Plans to debut on the global market of the Nasdaq with ticker symbol HSFT this week.

According to prospectus submitted to the US Securities and Exchange Commission (SEC), it intends to raise about USD 111 million via issuing at least 7.4 million ADSs (American Depository Shares) on the US bourse.

In detail, it plans to issue 6.4 million ADSs and the underwriters have the right to acquire 1.1 million ones additionally. An ADS is equivalent to 19 ordinary shares and the price is expected to range from USD 11 to USD 13.

hiSoft was established in 1996 and has grown into China’s second-biggest IT outsourcing company by operating revenue. It focuses on providing service to clients in the US and Japan such as Microsoft, HP and Sony.

Its operating revenue rose 40 percent in the first quarter of this year, with profit up 100 percent.

Source:http://www.tradingmarkets.com/news/stock-alert/hsft_china-it-outsourcing-giant-to-debut-on-nasdaq-1011127.html

The fate of a proposed November ballot measure that would force San Diego to seek competitive bids for certain services and allow the city to directly outsource without dealing with unions was uncertain Tuesday.

The county Registrar of Voters announced Monday that City Councilman Carl DeMaio, who is supporting the measure, failed to gather enough valid signatures to put it on the ballot. Per state law, the registrar attempted to verify a random 3 percent sampling of the 134,441 signatures DeMaio spent months collecting.

DeMaio has one chance to still qualify the measure by paying for the registrar to conduct a signature-by-signature verification, a costly process that he has said he would do if necessary, The San Diego Union-Tribune reported.

City Clerk Liz Maland told the newspaper she has yet to receive a cost estimate from the registrar on the verification process, but she indicated that timing may be more of an issue.

Source:http://www.10news.com/news/24079056/detail.html

Contrary to the slowdown projected for IT outsourcing growth, in just a span of a few days, three big outsourcing companies won IT outsourcing contracts all from different regions in the world.

On the 14th of June, Indian company HCL Technologies (NSE:HCLTECH) signed a five year, $79 million IT infrastructure outsourcing agreement with Singapore Exchange. The said contract is part of a $179 million project to speed up the bourse’s trading systems. The project is expected to establish the fastest trading system in the world (90 microseconds per transaction) for Singapore Exchange, as part of its Reach Initiative. According to Mr. Bob Caisley, EVP and CIO at the Singapore Exchange, the Reach Initiative is expected to “provide customers with the fastest access to Asia.” Revenue from the deal is expected to start coming in during the last quarter of the year, while steady state revenues will flow in by first quarter 2011.

The second company to land an IT deal this week is fellow India company Tata Consultancy Services Ltd. (NSE:TCS) On the 16th of June, TCS won a multi-year outsourcing contract with Nordic mobile communications provider, Telenor Norway (OSL:TEL). The contract will involve IT application maintenance and development services for Telenor Norway, currently the 6th largest mobile phone operator in the world. TCS, meanwhile, had been ranked as the leading outsourcing provider in the Nordic Region by global sourcing advisory firm, Equaterra just last month. Financial terms of the deal were not disclosed, but will likely pose both beneficial financial and strategic opportunities for TCS.

The third and last company to sign an IT outsourcing deal last week is none other than technology giant, IBM (NYSE:IBM), who signed a five year Integrated Management Services (IMS) agreement with another Telecom firm, Quippo-Wireless Tata Tele Info Services (Quippo-WTTIL) on the 17th of June. IBM will be providing technical support and hardware, mailing and infrastructure management software applications for Quippo-WTTIL. The financial terms of the deal were also not disclosed. This is however, the fifth such deal that the Big Blue has signed, along with Bharti Airtel (NSE:BHARTIARTL), Vodafone Essar, Idea Cellular (NSE:IDEA) and Bharat Sanchar Nigam Ltd or BSNL.

A lot more deals are expected to come through especially during the last two quarters of the year, not just for IT but also outsourcing in general. IT outsourcing growth, however, is projected to slow down, with renegotiations, not new contracts, that are expected to comprise a big bulk of contract signings for 2010—approximately $12 million in annual contract value. And while the trajectory for IT outsourcing may change yet, with only half the year gone by, last week’s performance did not likely cause a ricochet.

Source:http://seekingalpha.com/instablog/408130-outsourcing-insider/77606-outsourcing-companies-have-a-big-it-week