<article>Japan-based Scroll Corporation has acquired a 26.9 per cent stake in Cat Dong Trade and Service JSC, which owns e-commerce sites Cungmua.com and Nhommua.com, for an undisclosed sum.
The stake sale is part of an agreement signed by the two companies to collaborate in the areas of e-commerce and tourism that will see Cat Dong sell Japanese products on its websites.</article>

Japan-based Scroll Corporation has acquired a 26.9 per cent stake in Cat Dong Trade and Service JSC, which owns e-commerce sites Cungmua.com and Nhommua.com, for an undisclosed sum.
The stake sale is part of an agreement signed by the two companies to collaborate in the areas of e-commerce and tourism that will see Cat Dong sell Japanese products on its websites.
Scroll gets two seats on the Vietnamese company&#8217;s board as part of the deal.
Cat Dong CEO Ho Quang Khanh said the strategic cooperation with Scroll came about after two years of the Vietnamese company talking to various Japanese investors. The partnership, he said, will help Cat Dong recover its leading position in the Vietnamese market.
Cungmua.com was established at the time of an e-commerce boom in Vietnam in 2010. Three years later, the daily deals site was merged with beleaguered peer Nhommua.com whose investors IDG Ventures Vietnam and Rebate Networks Fund finally gave up on the struggling firm.
Cat Dong today has over 3 million customers and partnerships with about 1,000 brands and suppliers around the world. In the future, Cat Dong will focus on more B2B offerings, taking cues from what Scroll has done in Japan, Khanh said.
Private equity firm <a href="https://www.dealstreetasia.com/tag/ACA-Investments/">ACA Investments</a>, which has managed funds worth $1.4 billion to date, is the largest investor in Cat Dong with a 37 per cent stake.
Vietnam’s e-commerce market grew 25 per cent last year and is expected to maintain its growth in the next three years. Revenue growth in online retail channels in 2017 increased 35 per cent compared to 2016.
Revenue from online retail is forecast to hit $10 billion by 2020, accounting for 5 per cent of the country’s retail market, according to Vietnam E-commerce Association.
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Japan's Scroll acquires nearly 27% of Vietnamese e-commerce firm Cat Dong

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Japan's Scroll acquires nearly 27% of Vietnamese e-commerce firm Cat Dong

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