FPT acquires Intertec International’s IT Services division
Acquisition to further strengthen its North American nearshore delivery capabilities.
Vietnamese technology giant the FPT Corporation announced on February 23 its acquisition of the IT Services division of Intertec International, to further strengthen its North American nearshore delivery capabilities.
Following the success of an initial investment in Intertec in 2021, this majority investment enables FPT and Intertec to provide customers with a seamless experience by leveraging the strengths of both. Intertec Engineering, the company’s Technical Services division focused on aerospace and government, will remain an independent entity.
This investment enables FPT to further address increasing demand for Agile software engineering and bridge the time zone difference. It will continue to leverage and build upon Intertec’s delivery centers and operational experience in Costa Rica, Colombia, and Mexico.
Dr. Truong Gia Binh, Chairman of FPT Corporation, said each M&A deal bears good fruit for FPT. “We expect this acquisition to resonate greatly with FPT’s goal of expanding business operations globally, especially in English-speaking markets,” he added.
“Seeing the synergies and success of our relationship with Intertec made this deal a natural next step,” said FPT Americas CEO Dang Tran Phuong. “We are committed to providing exceptional services to our customers and have listened to their needs for a mix of offshore, nearshore, and onsite delivery models to help them realize their speed-to-market goals and provide 24/7 support.”
As an FPT company, Intertec customers will find a trusted partner providing greater scale and global delivery options through FPT’s extensive network of 27,000 employees in 29 countries and territories. Customers will also have access to enhanced service offerings, including data, cloud, digital platforms, RPA, AI, IoT, business applications, application services, managed services, and more.
“We have worked with FPT for several years and look forward to taking our relationship to the next level,” said Mr. Rickard Hedeby, CEO of Intertec International. “By combining forces, we can provide greater value to our customers and expand career opportunities for our employees.”
The move is part of FPT’s global growth strategy and will boost its presence in the Americas. With this investment, the company gains nearly 300 employees and four offices. In the next two years, it sets its sights on growing its headcount in the Latin American region to 1,000.