Transaction · Payments · 2022

SMBC / SmartNet 2022

Sumitomo Mitsui Banking Corporation acquired SmartNet for $9M on November 22, 2022.

Target: SmartNet
Acquirer: Sumitomo Mitsui Banking Corporation
Deal value: $9M
Announced: November 22, 2022
Sub-sector: Payments

Transaction overview

Sumitomo Mitsui Banking Corporation announced the acquisition of SmartNet on November 22, 2022 for $9M.

Strategic rationale

SMBC accelerates Asia franchise expansion and bolsters regional digital banking capabilities through investment in Vietnamese MSME payment solutions provider.

Deal terms & multiples

Deal value: $9M
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: November 22, 2022
Acquirer: Sumitomo Mitsui Banking Corporation (Strategic)
Sub-sector: Payments

Sources

vietnamnet.vn /en/fintech-future-in-store-for-smarter-m-a-deals-2083423.html

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