Lac Viet Computing Corporation

Headquartered in Phu Nhuan District, Ho Chi Minh city, Lac Viet Computing Corporation (“Lac Viet”) is a leading privately owned IT service and product provider in Vietnam. Founded in 1994, Lac Viet has becoming one of the top 5 IT companies, well-known for its e-dictionary Mtd, accounting software AccNet, first digital library system and e-books provider in Vietnam and system integration services. Lac Viet is a certified MicrosoftTM Gold Partner, CiscoTM Premier Reseller, Dell Distributor, Authorized Service Provider (DASP) and IBMTM Gold Partner. The Company is also ISO 9001:2000 certified in the areas of design and development of information systems and professional services and CMMI Level 4 in the areas of software engineering. Lac Viet had approximately 300 employees in its 3 offices in Ho Chi Minh City, Hanoi and Danang.

Lac Viet has three main business lines:

Software development – The Company develops and implements pre-packaged software applications to SMEs, including accounting, CRM, HRP, and Payroll/TMS. Lac Viet is the industry leader in locally developed Enterprise Resource Planning (ERP) applications for the Vietnamese market.

System integration - Integration solutions include consulting and designing networks, supplying secured storage, distributing hardware and server equipments, and providing secure web based collaborative portal and central repository.

Online content development – The Company provides in-house Multimedia Tools for Dictionary, online learning contents, e-books and other e-commerce services. Lac Viet also develops Knowledge Management Solutions such as library management software, and the web portal management product.

Investment Thesis

Lac Viet is taking transformative actions around maximizing its net profit. This includes structure and product reorganization and setting a clear business plan for each business unit with measurable KPIs focusing on net profit target. The execution of the business plan is expected to quickly turn the company around in the near future and achieve sustainable profitability in the long-term.

Recent Developments

Lac Viet has just launched the new accounting software product, AccnetIZ, priced at around $300, targeting the small businesses. This is a new segment for the company as they had previously focused on medium size companies, with accounting software selling at a price point of around $3,000.

History

Lac Viet was founded in 1994 and was initially involved in network integration projects. In 1995 the company launched its first software product, the mtd Vietnamese-English software dictionary, which eventually became the most widely used locally developed software application in Vietnam. In 1996, Lac Viet became a distributor of Dell and also launched its flagship accounting software product, AccNet. Subsequently, the company became a distributor for additional international IT companies and developed new software applications and ERP modules.

In August 2000, Lac Viet became the second Vietnamese IT company to receive ISO 9001 certification. In 2008, Lac Viet received the CMMI (Capability Maturity Model Integration) level 3 certificate.

For more information, please visit Lac Viet’s main website at www.lacviet.com.vn.