Lac Viet Computing Corporation

Lac Viet is one of the leading IT companies in Vietnam, providing a broad range of IT hardware and software products and services to satisfy customers’ needs for complete solutions. Lac Viet has developed a number of pre-packaged software applications, some of which are the market leaders in their respective product categories in Vietnam, such as the AccNet accounting software. Lac Viet’s strength is its commitment to continuous improvement of management systems and processes, and its pro-activeness in identifying and responding to its customers’ requirements. Lac Viet is also relatively unique in Vietnam insofar as many people on the management team are also shareholders of the company.

Lac Viet's revenues were $9.7 million in 2007, a 18% increase compared to 2006. By the end of 2007, Lac Viet had approximately 300 employees in its 3 offices in Ho Chi Minh City, Hanoi and Danang.

The Mekong Enterprise Fund made an investment in Lac Viet in October 2003. Lac Viet’s revenues have grown by 143% over the period that Mekong Enterprise Fund has been an investor.

Enterprise Resource Planning (ERP)

Lac Viet is the industry leader in locally developed Enterprise Resource Planning (ERP) applications for the Vietnamese market. Lac Viet's internally developed accounting and ERP applications, such as AccNet, Assets Management, HRP (HR-Payroll-TMS) are currently used at over 500 companies in Vietnam and continue to gain market share from both foreign and local competitors.

Digital Content

Lac Viet develops content intensive applications such as Lac Viet’s MTD dictionary, and educational software such as Happy-Kid, and tools for digitizing content such as V-Book. Lac Viet’s dictionary software, MTD, is considered to be the most widely used locally-developed software application in Vietnam.

Knowledge Management

Lac Viet also develops Knowledge Management Solutions such as library management software, and the web portal management product LiveContent. Lac Viet’s Vebrary was the first successful implementation of a Digital Library solution in Vietnam and together with content creation and management tools, will be Vietnam’s first complete Knowledge Management (KM) solution for both enterprises and training institutions.

Systems integration

Lac Viet is also involved in hardware sales and installation, networking equipment sales and network integration, and IT support services. Lac Viet is a leader in network and systems integration in Vietnam, with a list of prestigious customers that includes: Citibank, State Bank of Vietnam, Vietnam Bank for Agriculture and Rural Development, Bank for Investment & Development of Vietnam, ING Bank, Danang University, Fujitsu Component Systems, Nestlé, Tetra Pak and Hyundai Information Technology. Lac Viet is an authorized distributor for leading IT network infrastructure companies including Dell, IBM, KRONE, Allied Telesyn, Ericsson, and others.

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.

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