CMC Corporation receives strategic investment from Samsung SDS
Dr. Won-Pyo Hong - President and CEO of Samsung SDS, representing Samsung SDS to sign an agreement in principle on strategic investment with CMC Corporation.
Samsung SDS is a member of Samsung Group (South Korea) specializing in IT and logistics solutions, currently the No.1 information technology company of South Korea. As part of the strategy to expand business in Vietnam market, on May 25, 2019 in Hanoi, Samsung SDS signed an agreement in principle on strategic investment with CMC Corporation to enhance comprehensive cooperation in all areas of strength of both sides. In the immediate future, Samsung SDS will join CMC in developing the following fields: Smart Factory, Cloud and Cyber Security. In the future, the cooperation will exploit other fields such as Blockchain and Big Data, promoting strong growth to expand to Asia-Pacific market and global market as well.
This strategic investment agreement confirms the trust of Samsung SDS in CMC and is a testament to the capacity of Vietnamese technology companies in the trend of globalization. CMC hopes the strategic cooperation with Samsung SDS will help the corporation take a step closer to the strategic goal of achieving $1 billion in revenue by 2023. Currently, CMC Corporation is focusing all resources on 3 main areas of business: Technology & Solution, Global Business, and Telecommunications. CMC's goal is to become a global corporation at the forefront of providing digital transformation services and digital services to the region and the world.
Previously, Samsung SDS and CMC have started cooperation since 2016. In June 2018, Samsung SDS signed a strategic cooperation contract with CMC on deploying solutions to manage and operate MES (Manufacturing Execution System) for over 200 suppliers of Samsung in Vietnam. On the momentum of software cooperation, in November 2018, during the business trip of CMC delegation in South Korea, Samsung offered a comprehensive strategic cooperation in two very potential businesses, Samsung SDS ($ 8.2 billion in revenue in 2017) and telecom services (Data Center, Cloud) - this sector is growing with revenue of $ 2.2 billion. Currently, CMC Telecom is the only partner providing the entire international telecommunication channel for Samsung Group in Vietnam thanks to its quality of service, fast processing speed and full back-up system capacity.
Representatives of Samsung SDS and CMC Corporation in the signing ceremony (The third from the left: Dr. Won-Pyo Hong - President and CEO of Samsung SDS, the fourth from the left: Mr. Nguyen Trung Chinh - Chairman of BOD/CEO of CMC Corporation).
Speaking at the signing ceremony, Dr. Won-Pyo Hong - President and CEO of Samsung SDS said: “By selecting CMC, we have made sure to have a strategic partner to expand the business in Vietnam and South East Asia. We will actively support the Digital Transformation of global customers based on the synergy created from the corporation between the two companies. ”
Mr. Nguyen Trung Chinh - Chairman of the Board/CEO of CMC Corporation expressed his confidence in the success of this strategic cooperation: “CMC Corporation clearly determines the goal of providing “world class” ITC products and services to the world, which has been affirmed by the fact that many world-leading technology companies have chosen CMC as their partner: AT&T, Oracle, SAP, Microsoft and now Samsung SDS. I believe that the cooperation between Samsung SDS and CMC will be of huge value in building digital economy for Vietnam, South Korea as well as in reaching to the Asia-Pacific market and the world.”
Information on CMC Corporation:
CMC is the second largest ICT corporation in Vietnam with over 26 years of establishment and development. CMC has affirmed its position in the market of Vietnam and many countries in the world through its core business activities in 3 areas: Technology & Solution, Global Business, and Telecommunications. In Vietnam, CMC is known as a reputable and reliable partner for medium and major ICT projects in the areas of: Government, Education, Taxation, Treasury, Customs, Insurance, Electricity, Banking, Finance and Business. In fiscal year 2018, the accumulated revenue of the Corporation reached nearly 6,000 billion VND, and profit before tax reached more than 300 billion VND. Recently, CMC Corporation has just launched C.OPE2N, an open infrastructure to help businesses and organizations be successful in the digital transformation and quickly catch up with the strongly growing digital economy. CMC's ambition is to become a billion-dollar company by 2023.