Business
Samsung acquires 25% stake in Vietnam’s leading IT firm CMC
The cooperation focuses on smart factory, cloud, security, building management system IoT, and digital signature.
Samsung SDS, a subsidiary of Samsung Group focusing on information technology services, has brought a 25% stake at CMC Corporation, one of Vietnam’s top IT and telecommunications companies.
Local media calls the deal strategic and comprehensive cooperation between the two companies, and the biggest deal signed between a foreign firm and a Vietnamese company in the IT sector so far.
Under the deal, Samsung SDS representatives will join the Board of Directors of CMC Corp, share business strategies, and build mutual growth programs.
The cooperation will focus on key fields including Smart Factory, Cloud, Security, Building Management System IoT (Internet of Things), and Digital Signature.
CMC will receive the benefits from the resonance in technology strength and market potential which might enable the company to expand in Southeast Asia market.
In return, Samsung SDS will improve its position in the Vietnamese market by integrating into CMC’s business network.
The two parties continue to develop business in Artificial Intelligence (AI), Blockchain and Big Data. In terms of Smart Factory, Samsung SDS and CMC will focus on Korean factories in Vietnam and Vietnamese companies.
Furthermore, Samsung SDS will also make CMC its Global Software Development and Maintenance Center in Southeast Asia market and for that reason, CMC will act as the main partner of Samsung SDS in Asia.
WP Hong, chairman and CEO of Samsung SDS, said Samsung SDS will develop to support the digital transformation process of customers on global scale.
Samsung SDS and CMC started cooperation in 2016. In June 2018, the two companies worked together to conduct solutions for smart factory management and Manufacturing Execution System (MES) for Samsung’s suppliers in Vietnam.
In November 2018, Samsung proposed strategic cooperation in two segments namely Samsung SDS and Telecommunication Services (Data Center, Cloud) – a fast growing business.
CMC Telecom is currently the biggest partner providing international data transmission for Samsung in Vietnam thanks to its service quality, fast processing speed, and comprehensive back-up system capacity.
CMC Corporation
CMC Corporation is the second largest ICT corporation in Vietnam with more than 26 years of operations. Its business focuses on three fields, including Technology & Solution, Global Business and Telecommunications.
In Vietnam, CMC Corporation executes big ICT projects for Finance Banking, Public Administration, Taxation, Treasury, Customs, Insurance, Education and digital transformation service provider for enterprises.
In the fiscal year 2018, it posted VND6 trillion (US$260 million) in consolidated revenues. The company targets to reap revenues of US$1 billion in 2023.
Samsung SDS
Established in 1985, Samsung SDS is a global software solutions and IT services company working in 11 countries.
The company’s business covers consulting services (Business Strategy and Discrete IT and Network Consulting); technical services (Packaged and Customized Application Integration, Hardware and Software Implementation and Support, and IT Education); and outsourcing services (Business Process Outsourcing, Application and IT Infrastructure Outsourcing and Network Infrastructure Management).
SDS is expanding its business area by investing on R&D and emerging IT technologies such as Blockchain, AI, IoT, and Engineering Outsourcing.
CMC Corporation and Samsung SDS sign cooperation deal on July 26. Photo: CMC
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Under the deal, Samsung SDS representatives will join the Board of Directors of CMC Corp, share business strategies, and build mutual growth programs.
The cooperation will focus on key fields including Smart Factory, Cloud, Security, Building Management System IoT (Internet of Things), and Digital Signature.
CMC will receive the benefits from the resonance in technology strength and market potential which might enable the company to expand in Southeast Asia market.
In return, Samsung SDS will improve its position in the Vietnamese market by integrating into CMC’s business network.
The two parties continue to develop business in Artificial Intelligence (AI), Blockchain and Big Data. In terms of Smart Factory, Samsung SDS and CMC will focus on Korean factories in Vietnam and Vietnamese companies.
Furthermore, Samsung SDS will also make CMC its Global Software Development and Maintenance Center in Southeast Asia market and for that reason, CMC will act as the main partner of Samsung SDS in Asia.
WP Hong, chairman and CEO of Samsung SDS, said Samsung SDS will develop to support the digital transformation process of customers on global scale.
Samsung SDS and CMC started cooperation in 2016. In June 2018, the two companies worked together to conduct solutions for smart factory management and Manufacturing Execution System (MES) for Samsung’s suppliers in Vietnam.
In November 2018, Samsung proposed strategic cooperation in two segments namely Samsung SDS and Telecommunication Services (Data Center, Cloud) – a fast growing business.
CMC Telecom is currently the biggest partner providing international data transmission for Samsung in Vietnam thanks to its service quality, fast processing speed, and comprehensive back-up system capacity.
CMC Corporation
CMC Corporation is the second largest ICT corporation in Vietnam with more than 26 years of operations. Its business focuses on three fields, including Technology & Solution, Global Business and Telecommunications.
In Vietnam, CMC Corporation executes big ICT projects for Finance Banking, Public Administration, Taxation, Treasury, Customs, Insurance, Education and digital transformation service provider for enterprises.
In the fiscal year 2018, it posted VND6 trillion (US$260 million) in consolidated revenues. The company targets to reap revenues of US$1 billion in 2023.
Samsung SDS
Established in 1985, Samsung SDS is a global software solutions and IT services company working in 11 countries.
The company’s business covers consulting services (Business Strategy and Discrete IT and Network Consulting); technical services (Packaged and Customized Application Integration, Hardware and Software Implementation and Support, and IT Education); and outsourcing services (Business Process Outsourcing, Application and IT Infrastructure Outsourcing and Network Infrastructure Management).
SDS is expanding its business area by investing on R&D and emerging IT technologies such as Blockchain, AI, IoT, and Engineering Outsourcing.
