Vietnam’s FPT Software acquires US firm’s IT services unit

Photo credit: FPT Software

FPT Software, a Vietnam-based tech services firm, has acquired the IT services division of US-based Intertec International.

The deal’s size was not disclosed.

FPT Software will build on Intertec’s delivery centers and operational experience in Costa Rica, Colombia, and Mexico, the Hanoi-based firm said in a statement. Intertec’s technical services division, focused on aerospace and governments, will run independently, it added.

“We expect this acquisition to resonate greatly with FPT’s goal of expanding business operations globally, especially in the English-speaking markets,” said FPT Corporation chair Truong Gia Binh.

With the acquisition, FPT Software will onboard nearly 300 employees and take over four of Intertec’s offices. The Vietnam-based company is aiming to raise its headcount in the Latin American region to 1,000 within the next two years.

FPT Software has 27,000 employees in 29 countries. In 2021, the company had made an undisclosed investment in Intertec to scale up its presence in Latin America.

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Currency covered from Vietnamese dong to US dollar: US$1=23,815 dong