[April 16, 2010] Chinese hiSoft takes over US cloud computing specialist Echo Lane Tweet (M&A Navigator Via Acquire Media NewsEdge) China-based IT outsourcing company hiSoft Technology International has taken over US cloud computing solutions provider Echo Lane, the latter said yesterday, without disclosing financial details. Echo Lane will operate as a 100% subsidiary of hiSoft. The two companies will collaborate in the widening of their activities on the cloud computing market and serve customers in the USA, Europe and China. Tiak Koon Loh, chief executive of hiSoft, said that the takeover is part of the firm's strategy to "strengthen our global cloud service capabilities, as well as our CRM consulting practice". Echo Lane was set up by alumni of sector company Salesforce.com (NYSE:CRM) in 2004 and has been its partner ever since, Echo Lane said in its statement. Country: ; USA Sector: IT/Online Services Target: Echo Lane Inc Buyer: HiSoft Technology International Limited Type: Corporate acquisition Status: Closed ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]