​Samsung SDS to make strategic investment in Vietnamese IT service company

SEOUL -- Samsung SDS, the information technology wing of South Korea's Samsung Group, will make a strategic investment in CMC, a Vietnamese IT service company, to seek synergy in the fields of smart factory, cloud and cyber security in the Asian manufacturing hub.

Samsung SDS said in a statement on Monday that it will make a strategic investment in CMC to strengthen their business partnership which was formed in June last year. Financial terms were not disclosed. 

"Through the investment, we have secured a strategic partner to work together in Vietnam and Southeast Asia," Samsung SDS CEO Hong Won-pyo said. CMC specializes in software development, cloud computing and the operation of IT infrastructure. Samsung SDS plans to expand its internet of things (IoT), artificial intelligence, and big data business in the Southeast Asian market.