M1 Limited (M1) has announced an agreement to acquire a 70% stake in ADG National Investment and Technology Development Corp (ADG), with the remaining 30% to be retained by its current shareholders, including its Chairman and Founder, Vu Minh Tuan.
Through its subsidiary, AP Tech Holdings Pte. Ltd., M1 will invest a total of VND 719.9 billion (approximately USD 37.8 million).
ADG's leadership team, comprising Mr. Vu Minh Tuan; Chief Operating Officer, Pham Thi Thanh Tam; General Director, Dang Vu Toan; and Vice-Chairman, Huynh Minh Vu, will retain their roles and continue to guide ADG’s strategic direction.
M1, a subsidiary of Keppel Ltd., has entered Vietnam’s tech sector by acquiring a majority stake in ADG. This strategic move aligns with Vietnam's digital transformation goals, expanding M1’s regional presence and enhancing ADG’s capabilities with advanced telecom technology, industry expertise, and key partnerships.
Latest Network News: M1 Announces 3G Service Phase-Out, Promotes 5G Adoption
Local Presence Driving Expansion
Manjot Singh Mann, CEO of Connectivity at Keppel Ltd. and CEO of M1, noted that the acquisition represents a significant milestone in M1’s expansion into Vietnam and the broader enterprise solutions market, building on its previous acquisitions of AsiaPac in Singapore and Glocomp in Malaysia.
"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,” he continued.
ADG, an IT provider in Vietnam with 18 years of industry experience, operates through a network of over 2,000 local agents in major cities and has partnered with over 20 global tech companies, including Dell and Oracle. ADG offers advanced computing, networking solutions, and comprehensive services such as consulting, deployment, and technical support to small, medium, and enterprise (SME) clients across Vietnam.
Vu Minh Tuan, Chairman and Founder of ADG, stated, “We are excited to join forces with 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.”
The acquisition is anticipated to close in the first quarter of 2025, pending regulatory approvals and agreed conditions.
Read More:
M1 Unveils Innovative Sonic Branding
M1 Selects CSG's Cloud Platform for Telecom Revolution in Singapore
