Syno International completes divestment of its operations in Japan and Vietnam | Syno
Syno International has sold its shares in the businesses of Syno International Japan and Syno International Vietnam to Japanese consulting company Grasschild Consulting for an undisclosed sum.
The decision to divests the ownership in the Japanese and Vietnamese companies comes after a decision for Syno to focus on the markets in Europe, North America and other Asian countries.
We see clients usage of our SynoCloud platform in Europe and North America increase rapidly and to maintain a platform and global processes that also serve the local needs of the Japanese market is challenging. Cultural aspects in how to use SaaS products are very different and we are sure the decision for us to exit the Japanese market at a reasonable remuneration is correct
Jokke Nurminen CEO at Syno International
The Japanese entity will be rebranded during 2023 and shift its focus to offer consultancy services to Japanese cities that want to be more efficient and data driven. The technological backbone of the new business will be delivered by Syno International and the two companies will continue to cooperate.
About Syno International
Headquartered in Vilnius, Lithuania, with 60+ employees and full-time consultants across offices in Europe, the Americas and Asia, Syno International provides clients a cloud-based, consumer Data-as-a-Service (DaaS) platform—enabling data-driven organizations to make better business decisions. Syno International’s clients include market research agencies, management consultancies, media agencies, brands, and media companies. For additional information, please visit synoint.com