Business
Vemanti Group Signs MOU To Acquire Majority Interest In Two Group, JSC
Vemanti Group Signs MOU To Acquire Majority Interest In Two Group, JSC.
About this update from Vemanti Group Inc.
[{"type":"text","content":"\nVemanti Group Signs MOU To Acquire Majority Interest In Two Group, JSC\n\nVemanti Group Signs MOU To Acquire Majority Interest In Two Group, JSC\n\nNEWPORT BEACH, CA--(Marketwired - May 30, 2017) - Vemanti Group, Inc. (OTC PINK: VMNT), \"Company,\" a diversified holding company, today announced that it has signed a Memorandum of Understanding (MOU) to acquire majority interest of Two Group, JSC, \"TGJ,\" an internet technology conglomerate based in HCMC, Vietnam, as a first step of making strategic investments into Vietnam and Southeast Asia. The transaction, once ratified and finalized, will provide the Company with an established framework to capitalize on the fast growing internet economy of Vietnam, especially in e-commerce and online advertising. The plan is for the existing management team of TGJ to continue to run the business in their current capacities. The existing investors of TGJ will continue to hold a material interest in the company moving forward and will participate in future growth equity investments.Established in 2013, TGJ (www.two.vn) is the parent company of 4 wholly-owned subsidiaries, all operational and revenue-generating, across strategic information technology markets in Vietnam. Its current portfolio is principally focused in internet-based industries, including e-commerce, local search, social media, and streaming media. Brief descriptions of the 4 entities:Kay.vn (www.kay.vn) - A complete e-commerce solution that enables any merchants to set up an online store to sell their goods with built-in logistics, CRM, POS, inventory, sales and marketing functions. Its friendly subscription- and fee-based modules allow sellers to organize their products, customize their storefront, accept payments, track and respond to orders -- all within days and with a few clicks of the mouse. Diadiem.com (www.diadiem.com) - A B2B data mapping provider to Google Maps, Navteq, Apple Maps, and other businesses that utilize location-based search results for on-demand logistics management such as ride-hailing. It also offers consumer local search services such as quickest routes, real estate listings, nearby restaurants, hotels, shops, etc. With detailed location information of close to 2 million businesses across Vietnam, the company generates revenue primarily by delivering relevant ranked-search results and online adverti...