PM Nguyen Xuan Phuc visits FPT's stall at Industry 4.0 Summit (Source: VNA) Hanoi (VNS/VNA) - Information-telecommunication-technologygroup FPT Corporation (FPT) has acquired 90 percent of the US-based techadvisory firm Intellinet Consulting (Intellinet).
The total value of the deal was reported at 50million USD, according to FPT deputy general director Nguyen The Phuong.
FPT will pay 30 million USD in cash and the restof the payment will depend on the performance of Intellinet over the next threeyears. The US firm recorded 30 million USD in revenue in 2017.
The latest deal is expected to help FPT improveits status and become a popular general tech solution provider with higher,more comprehensive value for customers varying from strategy advisory tomaintenance in digital projects.
The cooperation between FPT and Intellinet willalso allow the Vietnamese ICT firm to increase its business activities in theUS market. In return, Intellinet hopes to become a global advisory firm.
“Accompanying global corporations in the contextof the fourth industrial revolution has made us see the potential of working instrategy advisory and digitalisation,” said FPT chairman Truong Gia Binh on July12.
“The latest deal with Intellinet is the solutionfor FPT to meet the demand for that segment. FPT is ready to offer generaldigitalisation solutions to global conglomerates and improve the status of Vietnamin the world’s ICT market.”
The US is FPT’s second-largest software importer.FPT earned 50 million USD from selling software programmes in 2017 to UScustomers, a yearly increase of 17 percent. The US customer file of FPT rangesfrom aerospace, medical and financial-banking to telecommunications andautomobiles.
The software export sector has grown an average of30 percent per year and is expected to contribute 50 percent of FPT’s totalrevenue in 2018. In the first five months of this year, FPT recorded 2.87trillion VND (127.5 million USD) from software exporting, an increase of 27percent year on year, and the figure accounted for 34 percent of the firm’stargeted total revenue.
Intellinet was founded in 1993 and isheadquartered in Atlanta. The US tech firm is seen as one of the fastestgrowing tech advisory firms in the country based on their 2013-16 revenues, accordingto Consulting Magazine.-VNS/VNA
The total value of the deal was reported at 50million USD, according to FPT deputy general director Nguyen The Phuong.
FPT will pay 30 million USD in cash and the restof the payment will depend on the performance of Intellinet over the next threeyears. The US firm recorded 30 million USD in revenue in 2017.
The latest deal is expected to help FPT improveits status and become a popular general tech solution provider with higher,more comprehensive value for customers varying from strategy advisory tomaintenance in digital projects.
The cooperation between FPT and Intellinet willalso allow the Vietnamese ICT firm to increase its business activities in theUS market. In return, Intellinet hopes to become a global advisory firm.
“Accompanying global corporations in the contextof the fourth industrial revolution has made us see the potential of working instrategy advisory and digitalisation,” said FPT chairman Truong Gia Binh on July12.
“The latest deal with Intellinet is the solutionfor FPT to meet the demand for that segment. FPT is ready to offer generaldigitalisation solutions to global conglomerates and improve the status of Vietnamin the world’s ICT market.”
The US is FPT’s second-largest software importer.FPT earned 50 million USD from selling software programmes in 2017 to UScustomers, a yearly increase of 17 percent. The US customer file of FPT rangesfrom aerospace, medical and financial-banking to telecommunications andautomobiles.
The software export sector has grown an average of30 percent per year and is expected to contribute 50 percent of FPT’s totalrevenue in 2018. In the first five months of this year, FPT recorded 2.87trillion VND (127.5 million USD) from software exporting, an increase of 27percent year on year, and the figure accounted for 34 percent of the firm’stargeted total revenue.
Intellinet was founded in 1993 and isheadquartered in Atlanta. The US tech firm is seen as one of the fastestgrowing tech advisory firms in the country based on their 2013-16 revenues, accordingto Consulting Magazine.-VNS/VNA
VNA
