Samsung SDS announced Sunday its strategic investment in Vietnamese information technology services company CMC.
The IT unit of South Korea’s major conglomerate group signed a principle agreement that allows it to make major decisions in CMC’s management.
CMC specializes in system integration, software development, cloud computing and IT infrastructure management. It has previously worked with Samsung SDS for smart factories and cybersecurity.
Samsung SDS said it will be a strategic investor, sharing its business strategies and insights in fields such as smart factories, cloud computing and cybersecurity.
CMC expects its new partnership will help it reach its management goal of $1 billion in sales by 2023.
According to Samsung SDS, Vietnam is emerging as a manufacturing powerhouse. To boost its competitiveness and presence in the market, it will provide its latest artificial intelligence, big data analytics, and internet of things technologies to CMC’s local sales network.
“(The company) will actively support the digital transformation of global customers by working closely with CMC,” said Samsung SDS CEO Hong Won-pyo.
By Cho Hyee-su (firstname.lastname@example.org)