Samsung SDS expands global business through strategic investment in Vietnamese IT Services Company
Samsung SDS expands global business through strategic investment in Vietnamese IT Services Company
+ Agreed to intimately collaborate with the management leadership of CMC, Vietnam's IT Services Company, through strategic investment
+ To share business strategies and vision as a strategic investor
+ Plan to target Vietnam, which has emerged as a manufacturing powerhouse, and expand business into global IT services market
Samsung SDS signed a principle agreement on May 25th with CMC Corporation, a Vietnamese IT Services Company, to intimately collaborate with CMC's management leadership with strategic investment.
Samsung SDS and CMC will build a strategic partnership through this investment, following the cooperation agreement on June 2018 for deploying joint business in smart factory and cyber security sectors.
Samsung SDS, as a strategic investor, will share business strategies and vision with the executives of CMC to maintain sustainable growth of the two companies.
With around 3,000 employees, CMC is an IT services company in Vietnam and its main business is system integration (SI), software development, cloud and IT infrastructure management.
CMC expects this investment to make it one step closer to its management goal of achieving $1 billion in sales by 2023.
Samsung SDS will proactively target the Vietnam, which has emerged as a manufacturing powerhouse, by integrating its latest technologies such as artificial intelligence, big data analytics, Internet of Things (IoT), and etc., with CMC’s local sales network and brand awareness. Both companies will generate strong synergy in various fields especially in smart factory, cloud, and cyber security.
In addition, Samsung SDS plans to work together with CMC's professional engineers to enhance its global business competitiveness and actively participate in global market including Southeast Asia.
Mr. Nguyen Trung Chinh, Chairman and CEO of CMC Corporation, said: "CMC have been strong partners with AT&T, Oracle, SAP, Microsoft and now Samsung SDS. I believe that the strategic cooperation between Samsung SDS and CMC will bring great value in building a digital economy for Vietnam, Korea, reaching out to the Asia and worldwide markets.”
Dr. WP Hong, President and CEO of Samsung SDS, said, “Through this investment, we have secured a strategic partner to expand our business in Vietnam and Southeast Asia. We will actively support the digital transformation of the global customers by working closely with the executives of CMC and integrating the capabilities of the two companies.”
