SOURCE: Vemanti Group, Inc.

May 30, 2017 06:30 ET

Vemanti Group Signs MOU To Acquire Majority Interest In Two Group, JSC

NEWPORT 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 advertising, allowing businesses to share more information and provide special offers.

Yume.vn (www.yume.vn) - A social network of over 3 million accounts that allows users to visually share and discover new interests by posting (commonly known as 'pinning') images or videos to their own or others' boards (i.e. a collection of pictures and articles usually with a common theme) and browsing what other users have posted. Branded and one-off sponsored posts placed in the streamed are paid for advertisers.

16Plus.vn (https://www.youtube.com/channel/UC0c0HV0negGSvz7mV6fH6ng) - A YouTube channel that leverages high-profile bloggers and social media influencers to create short movies to build brand and product awareness among the young adults. Its in-house produced movies have generated over 50 million views. This is an integral marketing component of the overall e-commerce business strategy.

The combined entities are part of TGJ's synergistic long-term growth strategy targeting the booming internet economy of Vietnam and Southeast Asia. The Company will start a due diligence period of the next 90 days where it will ascertain the value of the aforementioned entities before entering a Letter of Intent (LOI) with closing terms and conditions.

"I am delighted to welcome Vemanti into Two Group," explains Thang Duc Tran, Chairman and CEO for TGJ. "Over the past months we have come to greatly appreciate the savvy approach to partnership and tone of Vemanti. They are the right partner for the existing Two Group management team to be working with for the next phase of our evolution. We have felt for some time that the opportunity within our markets and our sector broadly has far more potential than we have been able to practically execute ourselves. With this new partnership, we will now have the management and financial capacity we want and need."

According to the report titled "Analysis of Southeast Asian eCommerce Market" published in August, 2016 by Frost & Sullivan, Southeast Asia is poised to become one of the world's fastest-growing regions for e-commerce revenues, exceeding US$25 billion by 2020 with Vietnam being one of the key markets.

Tan Tran, CEO of Vemanti, commented, "From the start, we've always strived to do more, and to grow in important and meaningful ways. In the technology industry, where revolutionary ideas drive the next big growth areas, you need to be strategic to stay relevant. We're pleased at the prospect of becoming a key investor of Two Group. It's an exciting time to be part of Southeast Asia's internet economy, especially in e-commerce, online travel and advertising. And with Southeast Asia fast becoming the fourth-largest market after the EU, US, and China, we expect to continue to make 'bets' in this major economic region and a driver of global growth."

About Vemanti Group, Inc.

Vemanti Group, Inc. (OTC PINK: VMNT) is a diversified holding corporation that's looking to be active in high-growth and technology-driven emerging markets. The Company plans to grow by adding value-added and fundamentally-sound businesses to its portfolio.

About Two Group, JSC.

Two Group, JSC is a multi-asset technology conglomerate based in HCMC, Vietnam. Its current portfolio encompasses several internet-based industries, including e-commerce, local search, social media, and streaming media.

Legal Disclaimer

This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.

Contact Information

  • Contact Information

    Vemanti Group, Inc.
    Investor Relations
    (800) 768-1288
    ir@vemanti.com