Samsung signs strategic investment deal with CMC

29 May 2019

Samsung SDS, a member of South Korea’s Samsung Group, has announced the signing of a strategic investment agreement with Vietnamese ICT company CMC Corporation. As part of a strategy to expand its business in the Vietnamese market, Samsung SDS will cooperate with CMC Corporation to develop key technology fields and help CMC achieve its goal of generating USD1 billion in revenue by 2023. According to a report by DealStreetAsia, Samsung SDS has agreed to buy a 25% stake in CMC.

‘Through this investment, we have secured a strategic partner to expand our business in Vietnam and Southeast Asia,’ commented Won-Pyo Hong, President and CEO of Samsung SDS, adding: ‘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.’

Vietnam, CMC Telecommunication Infrastructure (CMC Telecom), Samsung