FSN ASIA Acquires Clever Group, Vietnam's Largest Digital Marketing Company

[Asia Economy Reporter Yoo Hyun-seok] Future Stream Networks, a KOSDAQ-listed company, has made a surprise acquisition of Clever Group, Vietnam's largest digital marketing specialist company.

FSN announced on the 18th that it recently completed all acquisition procedures of Clever Group through its overseas business corporation FSN ASIA, expanding its shareholding to 41% and securing the position of the largest shareholder. Through this acquisition, Clever Group has been incorporated as a consolidated subsidiary of FSN.

Clever Group, acquired by FSN ASIA, operates digital marketing businesses targeting four countries: Vietnam, Indonesia, the Philippines, and Myanmar, and holds a dominant market share especially in Vietnam. Its main businesses cover the entire spectrum of digital marketing, centered on ▲ ad tech platforms, ▲ advertising agencies, and ▲ media companies, and it has a total of five subsidiaries across its business areas.

As of 2018, Clever Group recorded sales of 17.1 billion KRW and operating profit of 1.3 billion KRW, continuing its growth trend every year. The company expects last year's sales to have further grown to over 20 billion KRW, projecting a three-year sales growth rate exceeding 23%.

Cho Chang-hyun, CEO of FSN ASIA, stated, “Through the acquisition of Clever Group, FSN has completed its hub system in major Asian countries including China, Taiwan, Thailand, Indonesia, Singapore, and Vietnam,” adding, “We will make this year the first year to leap forward as the ‘Asia No. 1 Digital Marketing Company’ by strengthening synergies among various business divisions within the group.”