Three leading Japanese tech firms buy stake in FPT’s Sen Do

December 16, 2014 | 17:00

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Three Japanese internet companies, SBI Holdings, Econtext ASIA and BEENOS on December 5 signed an agreement to buy 33 per cent of online retailer Sen Do, a subsidiary of FPT.

“This co-operation will give Sen Do the opportunity to gain experience in ecommerce and electronic payments from the three Japanese partners, which happen to hold shares in 25 online retailers around the world,” said FPT’s deputy general director Nguyen The Phuong.

According to Vietnam’s 2014 White Book on Information and Communication Technologies, Vietnam ranks 3^rd in Southeast Asia, 7^th in Asia and 18^th in the world in terms of the number of internet users with nearly 40 million.

The acquisition is an opportunity for Vietnam to develop its online shopping industry. Revenue from ecommerce was $2.2 billion in 2013 and is expected to hit $4 billion in 2015.

At present, Sen Do owns two leading ecommerce sites in Vietnam, namely Sendo.vn and 123mua.vn.

Japan’s SBI Holdings is an internet-based financial conglomerate with approximately 15 million customers. Econtext Asia is a leading provider of online payment services and ecommerce solutions. BEENOS is an investor in over 80 internet service companies in the US, India, Indonesia, Turkey, the Philippines, Africa and other nations.

By By Kim Tran

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