AsiaInfo, a key investment in the Information Technology industry in China, was founded in the mid 1990s by a group of returning Chinese students to address a major market void: the lack of professional domestic IT solution providers capable of helping Chinese telecom carriers construct the country's Internet backbone. When Warburg Pincus met the founding management team in July 1997, AsiaInfo had already been involved in over 70% of the key internet backbone projects in China but was still an early stage company experiencing growing pains and in need of strategic and operational guidance. In December 1997, Warburg Pincus led an investor group that provided significant expansion capital. Since then, Warburg Pincus has worked closely with the company in assembling and continuously strengthening a world-class professional management team, developing operating and strategic plans, and executing acquisitions. Over its brief operating history, AsiaInfo has been able to establish the de facto industry design standards for the Internet framework in China, develop a strong relationship with all major Chinese telecommunications companies, and secure a dominant market share in all of its product categories. AsiaInfo went public on NASDAQ in March 2000, raising $138 million of capital. Today, AsiaInfo has firmly established itself as a leading provider of telecom network integration and software solutions in China, offering total network solutions and proprietary software products to meet the complete Internet, telecommunication infrastructure and operating needs of Chinese carriers. It aims to further upgrade and standardize its proprietary software applications to exploit new opportunities in China's fast growing IT industry.
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