VietNamNet Bridge - “The negotiations lasted seven months with 160 meetings organized. Sometimes the negotiations seemed to fall into a deadlock. But they continued until we reached an agreement,” said Truong Gia Binh, president of FPT, the largest Vietnamese IT corporation, about FPT taking over Intellinet, a US-based technology consultancy.


{keywords}

Oakwood State Bank has been taken over by Tin Thanh Group



The deal, wrapped up in July 2018, was an important move because it will help FPT upgrade technological services, including strategic consultancy, designing, implementation and maintenance, especially in digital transformation projects.

FPT has made a payment of $30 million, while the remaining will be paid based on Intellinet’s business results in the next three years. The total value of the deal could be up to $50 million. FPT expects to get 90 percent and Intellinet 10 percent of the business achievements in the future.

Nguyen Anh Nhuong Tong, called the ‘tycoon of the entertainment industry’, announced a plan for the Yeah1 Network, one of his subsidiaries, to take over ScaleLab LLC, headquartered in the US.

In dairy production, Vinamilk has set its foot in the US. Some years ago, the Vietnamese nation’s leading dairy producer acquired shares of Driftwood Dairy in California. After investing $3 million more, Vinamilk’s total investment capital in the company has reached $10 million.

The value of the deal of $20 million which will be paid in two stages. $12 million will be paid immediately, while the remaining $8 million will be paid within the next two years, depending on ScaleLad’s business performance.

In dairy production, Vinamilk has set its foot in the US. Some years ago, the Vietnamese nation’s leading dairy producer acquired shares of Driftwood Dairy in California. After investing $3 million more, Vinamilk’s total investment capital in the company has reached $10 million.

Oakwood State Bank, a 117-year-old bank in the US, has been taken over by Vietnam’s Tin Thanh Group.

In most cases, overseas takeover deals have brought profits to Vietnamese investors.

Encouraged by the success, Vinamilk has set up a new division in charge of international business. The move is seen as part of Vinamilk’s strategy to expanding outward investment.

For FPT, the US is the second largest software export market. In 2017, the market brought $50 million in turnover, an increase of 17 percent over 2016. In the US, FPT is providing services to about 200 customers in the fields of aerospace, health, banking - finance, telecommunications and automobiles.

After joining Yeah1, ScaleLad hopes to see revenue growing by 20-25 percent from 2019. It plans to reach the break-even point in 2019 and have net profit rate of 10 percent in 2020.

CAIT, a company from Vietnam earlier this year announced it has bought three cattle farms in Australia’s Northern Territory and Western Australia, worth $135 million. 

In 2018, Vietnamese investors registered outward investment value of $432.1 million.


RELATED NEWS

As domestic market gets saturated, investors eye foreign markets

Vietnamese investors prosper in Laos, Cambodia, Myanmar


L. Bang