HCM CITY — Intel Capital, Intel Corporation's global investment and M&A organisation, has announced it will invest US$17 million in two Southeast Asian companies.
The investments go to the Ha Noi-based Viet Nam Communications Corporation (VC Corp), an internet infrastructure and services company and Singapore-based Reebonz.com, one of the largest private sales e-commerce groups in Asia for luxury goods.
"The investments support the continued development of engaging local online experiences to help drive technology adoption and increased high speed broadband usage across Southeast Asia," the company said in a press release.
"Reebonz and VC Corp are examples of companies that are successful in getting Southeast Asians online because they provide engaging experiences tailored towards the needs and cultural preferences of consumers in the region," the release quoted Arvind Sodhani, president of Intel Capital and executive vice-president for Intel, as saying. — VNS