Japan's data processing company Transcosmos has bought a 30 percent stake in Hotdeal, one of Vietnam's major e-commerce platforms for daily deals and discounts, news website VnExpress reported on Tuesday.
This is part of Transcosmos' effort to increase its activities in Southeast Asia and the arrangement will also help Hotdeal improve its services' quality and expand its business, the platform's CEO Nguyen Thanh Van An was quoted as saying.
Founded in 2010, Hotdeal, which offers a wide range of products and services, from fashion to beauty treatment, now boasts around 2.5 million members and around 3.1 million users every month. It also owns a travel deal website.
Transcosmos, which is currently operating services like delivery and e-commerce in 34 countries around the world, posted $1.68 billion in revenues in the financial year 2014-2015.