Tech M&A gathering steam in Vietnam amidst COVID-19 pandemic

The tech industry, which saw its fortunes rise during the pandemic, is expected to drive dealmaking activities in Vietnam.

Ray Liang, COO of Society Pass (SoPa) told VIR that SoPa has just completed its initial public offering (IPO) on Nasdaq on November 9. The funds from the IPO will allow SoPa to expand its buying sprees in the region, focusing on fast-growing economies in Southeast Asia including Vietnam.

Liang noted that SoPa develops its mergers and acquisitions (M&A) strategy focusing on fashion, beauty, food, and tourism to build a comprehensive ecosystem for Southeast Asian consumers. The company is looking for potential targets including tech startups and e-commerce platforms in the fields. The funds will be allocated appropriately after SoPa considers the development stage of potential businesses in each respective market.

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