Vemanti Group Inc. (OTC:VMNT) Stock Soars 122%: Here is Why

This morning, it is quite likely that Vemanti Group Inc. (OTC:VMNT) is going to get some attention from investors. Yesterday, the company came into focus after it announced that it had been successful in concluding the acquisition of VinHMS Pte Ltd. VinHMS, which is based out of Singapore, is a technology solutions provider that specializes in the digital transformation space in the hospitality industry in the Southeast Asian region. The company noted in the news release that the transaction marked a major strategic achievement for Vemanti Group since it would place the company at the vanguard of the hospitality technology space.

Additionally, it was also a demonstration of the company’s commitment to eventually becoming a leading player in the digital innovation industry. Perhaps more importantly, the acquisition would also prove to be complimentary for both companies. It would provide a platform for strengthening operational capacities, expanding market size, and leading to revenue growth. VinHMS already boasts operations in Singapore, Thailand, Vietnam, and Cambodia. It is also planning to move into the Philippine and Indonesian markets. Hence, VinHMS believes that it remains in a position from which it could cash in on exciting revenue-generating opportunities in the fast-growing region.

VinHMS had been established in 2018 in Vietnam and boats of native cloud-powered platforms. These platforms are meant to cut down on overall costs, make processes more efficient, improve guest experiences, boost the financial performance of hotel operators, and speed up new innovations. The platforms manage to accomplish all that through the deployment of machine learning, proprietary algorithms, and artificial intelligence. The travel and tourism market in Southeast Asia is expected to grow rapidly in the coming years. As per Statista, the revenues could hit $31.53 billion in 2024 and eventually hit $38.22 billion in 2028.