M1 furthers regional expansion by acquiring 70% stake in Vietnamese IT solutions provider

The Straits Times10-29 11:57

SINGAPORE - 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 ...

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The purchase consideration will be paid through M1’s wholly owned subsidiary, AP Tech.Goodbye 3G: M1 firs","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SGXZ24219693.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) INC","SGXZ43160589.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) ACC","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","BK6111":"工业集团企业","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","BN4.SI":"吉宝有限公司","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999013478.USD":"利安新加坡股息基金","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","SG9999001135.SGD":"United ASEAN Fund SGD","BK6523":"ESG概念","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","BK6505":"周期性消费品与消费者服务","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD"},"translate_title":"M1通过收购越南IT解决方案提供商70%的股份进一步推进区域扩张","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BN4.SI":0.9},"content_text":"SINGAPORE - 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$37.8 million).\nAcquiring ADG will mark M1’s strategic entry into the Vietnamese market, said M1’s parent company Keppel.\nThe 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.\n\n\n\n\n“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.\nDell Technologies, Hewlett Packard and Nvidia count as some of the names among these technology partners.\n\nManjot Singh Mann, M1 chief executive and Keppel’s CEO of connectivity, believes M1’s investment in ADG will also augment Keppel’s suite of connectivity offerings for enterprises.\n\n\n\n\n“Through this acquisition, M1 will be able to leverage ADG’s expertise and local presence in Vietnam to further enhance our ability to deliver innovative and comprehensive solutions to our customers in the country,” he said.\n\nM1 will subscribe for new ordinary shares to be issued by ADG, as well as purchasing ordinary shares from all existing shareholders including members of ADG’s board. The purchase consideration will be paid through M1’s wholly owned subsidiary, AP Tech.\nCompletion of the transaction is slated for the first quarter of 2025, subject to approval and merger-filing clearance by the Vietnamese authorities.\n\nIt is not expected to have a material impact on Keppel for the current financial year.\n\nPost completion of the acquisition, the remaining 30 per cent stake in ADG will be held by existing shareholders including its chairman and founder, Vu Minh Tuan.\nKeppel said Tuan – along with other members of ADG’s board – will continue to play active roles as senior management of the company.\n\nAs at end-September 2024, ADG had an unaudited net asset value and book value of 151 billion dong.\n\nShares of Keppel rose 0.15 per cent to $6.49 as at 11.41am on Oct 29. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nSingtel, KKR consortium front runner to buy $1.35 billion stake in data centre provider: Sources\n\n\n\n \n\nGoodbye 3G: M1 first to retire network by Aug 1, Singtel and StarHub to follow","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479417546"}