Targeting billions of USD in 2023, FPT Software acquires the IT Services segment of an American enterprise

FPT Software (a member company of FPT Corporation) announced the acquisition of the entire IT Services segment – one of the strategic business segments of Intertec International – USA (Intertec).

The relationship between the two parties began with FPT Software’s investment in Intertec in 2021. In 2023, together with this deal, FPT Software expanded its presence in Costa Rica, Colombia and Mexico. These are also three countries with Intertec’s technology production centers.

Accordingly, along with FPT Software’s network of 22 technology supply centers around the world, the newly merged Intertec’s technology services segment will help the two sides ensure the fastest companionship with customers in all time zones, anywhere in the world and make the most of unlimited opportunities from the English-speaking market. At the same time, helping FPT Software improve its ability to meet the quality of products and solutions in the field of flexible software (Agile Software) for customers.

Director of FPT Americas (the US branch of FPT Software) Mr. Dang Tran Phuong said that this agreement is an important step forward after a very successful cooperation period between FPT Software and Intertec International from 2021.

“We accompany the development needs of customers, to face all difficulties of the world economy, through the model of combining many global production centers and technology offices, helping customers to push quickly bring products and solutions to the market and provide 24/7 support”, Mr. Phuong said.

The US is one of FPT Software’s two largest markets, contributing the highest profit among all markets, with a growth rate of 50% in 2022. FPT Americas sales have increased 5 times and 10 times in profit from 2017 to 2022. The US branch continues to implement its expansion plan and aims to reach 1,000 employees in Latin America in two years. next.

Since 2014, FPT Software has carried out M&A with RWE IT Slovakia to expand the customer base in the field of public utilities. This is the first M&A deal in Vietnam’s information technology field in foreign markets. In 2018, FPT Software acquired 90% of the shares of Intellinet, a company specializing in consulting the fastest growing digital transformation roadmap in the US, assessed by Consulting Magazine in 2017.

FPT Software said that M&A deals play an important role in the business’s global strategy, aiming to reach $1 billion in sales by the end of 2023 and become the Top 50 global technology companies by 2030. .

Previously, Mr. Do Cao Bao – Board member of FPT Joint Stock Company also revealed that FPT Software’s software export revenue in 2023 is expected to be 1 billion USD.

Mr. Bao compared 1 billion USD equivalent to 23,500 VinFast VF8 cars sold in the US (at $42,500 a car).

Thus, if the growth rate of 26% per year is maintained as in the past 5 years, FPT Software’s sales will be 2 billion USD by 2026, 4 billion USD by 2029, 8 billion USD by 2032, and 8 billion USD by 2032. 2035 is 16 billion USD. That means that by 2035, the value created by FPT Software will be equivalent to 64 billion USD of industrial goods,” Mr. Bao shared on his personal page.