Mergers & Acquisitions (M&A) have existed for more than 120 years worldwide. The first wave emerged in the United States at the end of the 19th century, when giant corporations in steel, oil, and railroads were formed—only to be quickly curtailed by antitrust laws. Since then, M&A has evolved through multiple transformative phases:
- Industrial Monopoly (1895–1930): The rise of conglomerates and the birth of antitrust regulations.
- Diversification (1930–1970): From supply chain integration to multi-industry conglomerates.
- Financialization (1980s): The boom of leveraged buyouts (LBOs) and junk bonds.
- Globalization (1990s): Cross-border M&A expanded across banking, energy, and telecommunications.
- Technology & Big Tech (2000s–2010s): Record-breaking deals by Google, Microsoft, Meta, and others.
- Sustainability & The Rise of Asia (2020s–present): AI, ESG, and renewable energy, with Asia becoming the new epicenter.
Moving Late, Yet Moving Fast
Against this backdrop, Vietnam entered the M&A arena later than many countries—but with remarkable speed. While the global market took centuries to shape, Vietnam achieved a breakthrough in just two decades:
- Early Stage (1990s–2005): Mostly joint ventures and strategic investments, with no formal legal framework.
- Formation (2005–2006): The Enterprise Law and Securities Law officially recognized M&A.
- Kick-off (2006–2010): The first landmark deals in banking and FMCG.
- Boom (2011–2018): Multi-billion-dollar transactions reshaped the market.
- Development (2019–present): Technology, education, logistics, and renewable energy take center stage, with strong participation from private equity funds and international corporations.
Although a latecomer, Vietnam has swiftly become a strategic M&A destination in Southeast Asia.
Yet in Vietnam, M&A is still too often viewed through a narrow lens: purchase price, ownership percentage, or valuation. In reality, the essence of M&A goes far beyond numbers. It is about financial transparency, strategic alignment, cultural integration, and long-term sustainability. This very gap is where Alliance Mount steps in—not only to bridge it, but to redefine the value of M&A in Vietnam.
M&A Is Not Just a Transaction, But a Journey of Value Creation
What makes M&A in Vietnam distinctive is the unique journey of local enterprises compared to their global peers. Having endured decades of economic hardship, many Vietnamese businesses only grew strong enough to consider M&A after years of persistence and resilience. As a result, Vietnamese entrepreneurs embody a dual mindset: preserving tradition while embracing global integration.
At the same time, Vietnamese companies face distinct challenges: language, culture, technology, and governance standards. Culture here is multi-layered—not only national identity shaped by history, but also local culture, industry culture, and corporate culture. This makes M&A not merely a financial or strategic exercise, but a subtle equation of people, identity, and adaptability.
Alliance Mount was founded on the belief that M&A is not just a transaction, but a value creation journey. With international roots in Switzerland and Singapore, combined with deep local expertise in Vietnam, we go beyond connecting buyers and sellers. We are redefining the way value is perceived in M&A.
Our multi-dimensional approach focuses on:
- Financial Transparency – International-standard valuations that create fairness for both buyers and sellers.
- Strategic Value – Unlocking true synergies, from market expansion to supply chain optimization.
- People & Culture – Retaining key talent and harmonizing cultures for long-term success.
- Innovation & Sustainability – Integrating technology, ESG principles, and global trends to build lasting competitiveness.
We focus on sectors with the greatest potential: information technology to help Vietnamese companies scale globally; education to connect international capital with innovative learning models; renewable energy to shape a sustainable future with multi-million-dollar deals; and logistics and manufacturing to upgrade supply chains for foreign investment inflows.
That is why redefining M&A in Vietnam must rest on one principle: success comes only when a deal meets international standards while respecting and preserving the unique identity of Vietnamese enterprises. This is at the heart of every journey we undertake.
For us, a deal does not end with a signature. It marks the beginning of a value creation journey. International investors find the right partners and the confidence for long-term collaboration. Vietnamese businesses gain not just capital, but also governance, technology, and market access. Together, these deals strengthen Vietnam’s position on the global M&A map.
For over 120 years, M&A has evolved to reflect each era of economic development. Today in Vietnam, Alliance Mount is writing the next chapter: one of redefinition. M&A value is not just numbers—it is the synergy of finance, strategy, people, culture, and sustainability. This is the new standard we aim to set for Vietnam’s market—where every deal is not the end, but the beginning of a long-term growth journey.
