FPT strikes first M&A deal in Slovakia
(VOV) - FPT, the leading Vietnamese ICT company, signed a deal with Slovak energy corporation RWE in Berlin on June 18 to purchase its subsidiary RWE IT Slovakia.
Under FPT’s first mergers and acquisitions (M&A) deal, RWE IT Slovakia will be renamed FPT Slovakia and wholly invested by FPT Software in the country.
Established in 2004, RWE IT Slovakia has more than 400 employees, mostly experts in Statutory Accounting Principles (SAP) software. It specialises in supplying IT services, especially SAP and ‘Smart Home’ solutions to its parent company.
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| RWE Chief Executive Officer Peter Terium and FPT President Truong Gia Binh shaking hands after signing the M&A deal |
RWE will become FPT Software’s biggest client in Europe, with a score of contracts worth tens of millions of US dollars over five years.
FPT Software expects the agreement will help the company expand operations in various areas in Europe and beyond.
“The landmark deal will elevate FPT’s position in Europe and the rest of the world,” said FPT President Truong Gia Binh.
“From now on FPT is capable of supplying overall and long-term IT services to leading partners in the area of infrastructure (power, gas, water supply and others) in Europe and other developed economies like the US and Japan.”
FPT Software General Director Nguyen Thanh Lam said the M&A deal will enhance FPT Software’s production capacity, enabling the company to make use of resources both in Europe and Vietnam to provide the most efficient services to customers.
It will also help FPT Software break into and increase its revenue in this potential market, he said.
FPT is speeding up its development strategy overseas. It earned US$130 million in revenue from overseas markets in 2013 and aims to raise the figure to US$340 million in 2016.