BDA Partners is pleased to announce that its clients, VMG Media, a digital media group in Vietnam, and individual shareholders have sold a 65% stake in VNPT ePay. The buyer is UTC Investment, a Korean technology-focused private equity firm, backed by Daesang Corporation.
VNPT ePay is a leading payment technology company in Vietnam, providing payment gateway for online services, top-up pin code distribution, bill payment collection, e-wallet and e-commerce delivery payment. Vietnam Posts and Telecommunications Group, Vietnam’s largest telecommunications company, is retaining its 35% stake in the business.
Chau Nguyen Anh, CEO of VNPT ePay, said, “ePay looks forward to its next stage of development with its new majority owner. VNPT ePay will benefit from UTC Investment’s experience in Korea’s advanced payments market. Vietnam’s payment market is continuing to rapidly develop, and VNPT ePay is excited to remain at the forefront of the industry.”
Paul DiGiacomo, Managing Director at BDA, said “We are delighted to have helped VMG Media in this important transaction. By running a competitive global process, we are confident that we have maximized shareholder value and found VNPT ePay an excellent new shareholder. This transaction highlights BDA’s strength in executing cross border M&A transactions and our increased focus on the fintech space.”
BDA Deal Team
Paul DiGiacomo, Managing Director, Hong Kong
Howard Lee, Managing Director, Seoul
Rica Wirianata, Director, Singapore
Jonathan Fein, Vice President, Singapore
Huong Lop Nguyen, Associate, Ho Chi Minh City
Yougyeong Kwon, Associate, Seoul
About VMG Media
VMG Media is a pioneer in digital media in Vietnam, with business interests including online media content, games, advertisement, e-commerce, social media and other areas. VMG developed its subsidiary ePay into a market leader in Vietnam’s payments industry and is now seeking to focus on its core digital media operations.
About VNPT ePay
VNPT ePay is a leader in Vietnam’s payment industry with strong positions in providing payment gateway for online services, top-up pin code distribution, handling bill payment collection and money disbursement, offering consumer e-wallet services, as well as e-commerce delivery payment solutions.
About UTC Investment
UTC Investment is a Korea based private equity firm focused on the technology industry. It is backed by Daesang Corporation, a leading Korean food and food seasoning company with years of experience in Vietnam. UTC has substantial experience in financial technology, with successful investments in Bitcash, Finger, Kaneju Securities, Kardnet, Mybi, Starbank and others.
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A and capital raising. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors.