Vietnamese software provider MISA secures investment from TA Associates
TA Associates, a US private equity firm, has invested an undisclosed amount of money in MISA Joint Stock Company, a software provider in Vietnam.
MISA with more than 1,500 employees offers accounting, financial, enterprise resource planning and business management software to enterprises, government and individuals across Vietnam.
The company serves over 70,000 government sector clients and 100,000 small and medium-sized enterprise, retail, and food and beverage clients across the country.
Under the agreement, Edward Sippel, a managing director at TA Associates and co-head of Asia operations of TA Associates Asia Pacific Ltd, will join the MISA Board of Directors.
Commenting on the investment of TA Associates, Edward Sippel said: “MISA is among the software industry leaders for both the public and private sectors in Vietnam, with a high quality business model and an impressive history of generating meaningful growth.
“With its innovative product offerings, talented management team and commitment to customer service, we believe that MISA is well positioned to capitalize on both organic and inorganic growth opportunities.”
MISA founded in 1994 has offices in Hanoi, Da Nang, Buon Ma Thuot, Ho Chi Minh City and Can Tho.
Long Lu Thanh – founder and chairman of MISA said: “Since establishing MISA more than 25 years ago, we have strived to design and deliver software solutions that are effective and user-friendly for our dedicated customer base.
“As we seek to aggressively scale our business model and augment growth through a variety of new services, it is critical to have a genuine partner by our side who is fully aligned with and supportive of our go-forward strategy, understands the software industry well and provides impactful value-add.”
TA Associates has raised US$32.5 billion in capital since its inception in 1968 and is committing to new investments at the rate of more than US$2 billion per year.