M1 has agreed to acquire a 70 percent stake in Vietnamese IT solutions provider ADG National Investment and Technology Development Corp (ADG).
The S$37.8 million acquisition will be through M1’s wholly-owned subsidiary AP Tech Holdings.
ADG has a network of more than 2,000 local agents and partners, and operations in the Hanoi, Ho Chi Minh City, Da Nang, and Can Tho. With more than190 employees, it provides advanced technology products and a full suite of customised solutions such as professional training, solution consulting, system deployment, and technical support to small and medium-sized businesses and other enterprise customers.
Its works with more than 20 global technology partners, including CommScope, Dell Technologies, Fujitsu, Hewlett Packard Enterprise, Juniper Networks, NVIDIA, and Oracle.
The acquisition of a majority stake in ADG marks M1’s entry into the Vietnamese market, allowing the telco to diversify its portfolio and tap into new growth opportunities in Vietnam’s booming technology sector, with the growing focus on Vietnam’s National Digital Transformation Programme.
“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. M1’s investment in ADG will also augment Keppel’s suite of connectivity offerings for enterprises,” said Manjot Singh Mann, CEO of Connectivity at Keppel and CEO of M1.
“This partnership will enable ADG to leverage M1’s cutting-edge technology and expertise, enhancing our ability to serve our customers and drive growth in the Vietnamese market,” said Vu Minh Tuan, Chairman and Founder of ADG.
The transaction is expected to be completed in the first quarter of 2025, subject to regulatory approvals and the fulfilment of mutually agreed conditions.
Photo: Edward Lim
Entelechy Asia 