Singapore’s Ademco Acquires 60% Stake of Vietnamese Security Firm

Minh Anh

15:39 12/02/2018

BizLIVE - Ademco's venture comes as the firm seeks to build its presence in the country to capture Vietnam's growing needs for integrated security solutions in business operations and management.

Singapore’s Ademco Acquires 60% Stake of Vietnamese Security Firm

Ademco Security Group’s control monitoring station. Photo: Ademco Security Group

Singapore-based security solutions provider Ademco Security Group has announced its acquisition of a majority stake of Vietnamese security firm, part of a plan to boost its overseas revenue by 50% over the next three years, Singaporean media reported.
In partnership with International Enterprise (IE) Singapore, Ademco took over a 60% stake in TNT Technologies Joint Stock Company (TNT), a high-end integrated security solutions provider. TNT's existing owners will hold the remaining 40%.
The acquisition of TNT is Ademco’s first deal in Vietnam, and marks its seventh addition to the company's geographical footprint across Singapore, China, India, Malaysia and the Philippines. The firm also plans to establish a global regional presence in 14 markets by 2020.
Established in 2005, TNT provides security solutions to clients across various sectors including aviation, banking and retail. Notable clients include the Hanoi Noi Bai International Airport and Samsung Electronics Vietnam.
Ademco's venture comes as the firm seeks to build its presence in the country to “capture Vietnam's growing needs for integrated security solutions in business operations and management,” IE Singapore and Ademco said in a joint statement.
“Not only is there a strong demand for integrated security management systems by large MNCs with regional operations in Asia, we also see great potential in the large local enterprises and government bodies,” said Said Ademco's Group Managing Director Toby Koh.

MINH ANH

Từ khóa: Vietnam