Singapore-based Ademco acquires 60% in Vietnam security solution provider TNT

Singapore-based security services company Ademco Security Group Pte Ltd (Ademco) has acquired 60 per cent of one of Vietnam’s leading security solution providers TNT Technologies Joint Stock Company (TNT) as a part of its plan to grow overseas revenue by 50 per cent over the next three years.

This deal was done in partnership with International Enterprise Singapore (IE Singapore). The transaction value was not disclosed.

It marks Ademco’s first acquisition in Vietnam at it tries to local presence to capture the demand for integrated security solutions in business operations and management, Ademo said in its press release.

“Ademco expects to further increase its overseas revenue by 50 per cent over the next three years to drive business growth. Vietnam will be a key contributor to this through the acquisition,” the announcement noted.

Beyond Vietnam, Ademco is partnering IE Singapore to scale up in Asia including India and China.

Ademco Security Group Pte Ltd has worked with more than 8,000 institutional, commercial and government clients across Asia for more than three decades.

It has an annual turnover of approximately S$40 million, staff strength of more than 400 across 20 cities in Singapore, Malaysia, Philippines, China, Indonesia, and India.

IE Singapore is the government agency that promotes international trade and partners Singapore companies to go global. It provides in-market information on the industry landscape and facilitates pre-acquisition due diligence.

Established in 2005, TNT specialises in security solutions to clients across aviation, banking, manufacturing, oil and gas and retail. It has a respected track record, with notable projects for clients such as the Hanoi Noi Bai International Airport, Samsung Electronics Vietnam and Mektec Manufacturing Corporation.

Also Read:

SG Dealbook: RHL Ventures partners Hanwha; IE Singapore collaborates with IFC

Bursa-listed GHL acquires 31.16% of Vietnam’s MPOS for $3.3m

Taiwan’s Synnex Technology to acquire 47% stake in Vietnam’s FPT Trading

 

 

 

 

 

 

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.