Strategic Partnership with Mitsui in Vietnam
April 30, 2013
Harvey Nash, the global recruitment and outsourcing group, is delighted to announce that it has acquired a 15% shareholding in MOCAP Vietnam, a joint venture with Nikkei-listed Mitsui & Co, WPP Plc associate Smart Media and other partners, to create the largest offshore call-centre business in Vietnam, opening up access to the Japanese markets for software development and business process outsourcing (“BPO”).
Under the terms of the venture, Harvey Nash settled the consideration for the shares by way of fixed assets, including staff and client contracts, transferred into the new entity, with a book value of $0.5m. MOCAP Vietnam will build an in-bound and out-bound call centre business in Vietnam, and promote software development, maintenance and business process outsourcing services to the Japanese market. The joint venture will also enable a consortium approach to bidding for new contracts, not only in Japan but in Asia more widely and drive growth in the Harvey Nash Vietnam based offshore software development and BPO business as well.
Albert Ellis, CEO Harvey Nash commented: “This agreement will create the largest specialist call centre in one of the fastest emerging markets in South East Asia, offering clients attractive productivity and efficiency benefits and access to one of the largest offshore software development and BPO businesses in Vietnam, at a time when global economic growth is weak and companies are looking to innovate and reduce costs.”