Growth private equity firm TA Associates has completed a minority investment in MISA Joint Stock Company (MISA), a software provider in Vietnam. Financial terms of the transaction have not been disclosed.
Founded in 1994, MISA provides accounting, financial, enterprise resource planning (ERP) and business management software to enterprises, government and individuals across Vietnam. The Company serves more than 70,000 government sector clients and 100,000 small and medium-sized enterprise (“SME”) clients across the country. MISA has more than 1,500 employees throughout its offices in Hanoi, Da Nang, Buon Ma Thuot, Ho Chi Minh City and Can Tho.
“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,” says Edward Sippel, a Managing Director at TA Associates and Co-head of Asia operations of TA Associates Asia Pacific Ltd who will join the MISA Board of Directors. “With its innovative product offerings, talented management team and commitment to customer service, we believe that MISA is well positioned to capitalise on both organic and inorganic growth opportunities. We are excited about this partnership, and are looking forward to working collaboratively with the MISA team.”
“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,” says Long Lu Thanh, Founder and Chairman of MISA. “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. We have found that partner in TA Associates, and we look forward to leveraging their deep global experience within the software sector and technology space to help take our company to the next level.”
“To date, our team has worked diligently to help change the level of productivity and efficiency of individuals and organisations throughout Vietnam,” says Dinh Thi Thuy, Chief Executive Officer of MISA. “As a quality investor with a true global reach, we believe that TA Associates will play a key role in helping us expand into new markets to promote sustainable growth within our business. We welcome TA to the MISA family.”
“Given Vietnam’s rapid development as an attractive emerging market, the country’s software industry is enjoying significant growth, particularly as companies are beginning to acknowledge and comprehend the benefits of capital expenditure savings that cloud software provides,” says Jonathan Meeks, a Managing Director at TA Associates. “Because of this, we believe that MISA is well-positioned to maintain its growth trajectory by continuing to secure new clients and contracts within government agencies and prominent enterprises while simultaneously transitioning to even more advanced cloud-based SaaS products. We sincerely thank the MISA team for this partnership opportunity.”
