Vietnam Newsletter - August 2025

Market Summary

In August 2025, the Vietnamese market witnessed transactions totaling around c.USD461 million. Notably, the Technology, and Energy & Utilities sectors were prominently involved:

• The Technology sector featured a notable transactions including Appirits and Bunbu JSC, with a total deal value of c. USD240 million.
• The Energy & Utilities sector featured South Korea's HD KSOE acquiring Doosan Vina for c. USD207 million.

Aggregate Deals Value = c.USD461m1

This month's top deals

Technology

Appirits Inc. agreed to acquire Bunbu Joint Stock Company

Appirits, a Japanese-listed technology company, has acquired Vietnam-based software developer Bunbu Joint Stock Company for USD240m to enhance its digital integration and accelerate its “VISION2030” growth strategy. The acquisition, finalized on August 29, 2025, will strengthen Appirits’ talent pool, optimize costs, and drive international expansion.

Article link: Appirits Inc. agreed to acquire Bunbu Joint Stock Company

Energy & Utilities

South Korea's HD KSOE to acquire Doosan Vina for $207 million

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has acquired Doosan Vina for USD207m to enhance its operations in energy transition sectors. The acquisition will support Doosan Enerbility’s expansion into high-growth areas like small modular reactors and gas turbines, aligning with global energy trends.

Article link: South Korea's HD KSOE to acquire Doosan Vina for $207 million

Note: (1) Deal values include disclosed announced & closed deals with amounts restricted to the local scene i.e., amounts related to the Vietnam entity and/or business. Rumored deals are not included. Cross-posted deals are also adjusted to avoid double counting.