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.
- The deal is expected to close pending customary conditions.
Strategic rationale
SMBC accelerates Asia franchise expansion and bolsters regional digital banking capabilities through investment in Vietnamese MSME payment solutions provider.
Deal terms & multiples
Frequently asked questions
How much did Sumitomo Mitsui Banking Corporation pay for SmartNet?
Sumitomo Mitsui Banking Corporation acquired SmartNet for $9M, announced on November 22, 2022.
When did Sumitomo Mitsui Banking Corporation announce the acquisition of SmartNet?
Sumitomo Mitsui Banking Corporation announced the acquisition of SmartNet on November 22, 2022.
What sub-sector is SmartNet in?
SmartNet is tracked in the Payments sub-sector.
Sources
- vietnamnet.vn /en/fintech-future-in-store-for-smarter-m-a-deals-2083423.html