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MI to buy 70% stake in Vietnamese IT firm to expand regional reach
October 30, 2024
|The Straits Times
Mobile network operator M1 is acquiring a 70 per cent stake in Vietnam-based IT solutions provider, ADG National Investment and Technology Development, for a total purchase consideration of 719.9 billion dong (S$37.7 million).
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Acquiring ADG will mark M1's strategic entry into the Vietnamese market, said M1's parent company Keppel.
The group noted the IT solutions provider's track record of 18 years in the value chain; its network of more than 2,000 local agents and partners; and operations in the four major cities of Hanoi, Ho Chi Minh City, Da Nang and Can Tho.
"Significantly, ADG brings advanced computing and storage solutions, high-performance networking solutions, as well as innovative computing and IT services to the market through its robust network of over 20 global technology partners," said Keppel.
هذه القصة من طبعة October 30, 2024 من The Straits Times.
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