Vietnam´s FPT steps up US expansion with Cardinal Peak acquisition

[Viet]

FPT and Cardinal Peak strategic investment signing ceremony took place in Hanoi, Vietnam
Credit: Business Wire

Vietnam-headquartered IT services provider FPT Corporation has acquired US-based company Cardinal Peak as part of a strategic move to strengthen its product engineering delivery capabilities in North America.

The investment will leverage Cardinal Peak's 20-year experience of delivering end-to-end product engineering services, including hardware, embedded software, IoT, cloud, and mobile product development, to over 300 companies in automotive, healthcare, robotics, consumer electronics, streaming media, security and safety, and aerospace industries.

FPT will also gain about 100 experts and one office in the United States as part of the deal.

With these additional resources, the global IT firm sets its sights on doubling its product engineering services revenue in the Americas in the next two years.

This goal is partially driven by its investment commitment of US$100 million by the end of 2023 in this strategic market.

Meanwhile, Cardinal Peak will remain an independent entity but now has access to enhanced service offerings, greater scale, and global delivery options through FPT’s extensive network.

FPT Corporation CEO Nguyen Van Khoa expects that the synergy between FPT and Cardinal Peak will result in new digital products, contributing to the advancement of Vietnam’s IT industry.

“Cardinal Peak is a well-respected name in the product engineering industry. The team’s track record of effective collaboration and swift innovative solutions delivery will be a tremendous asset to FPT,” FPT Software’s SEVP and head of FPT Americas, Europe, and Middle East Phuong Dang said.

“We trust that this will be another fruitful addition to our global expansion.”

FPT steps up US expansion with Cardinal Peak acquisition

Vietnam-headquartered IT services provider FPT Corporation has acquired US-based company Cardinal Peak as part of a strategic move to strengthen its product engineering delivery capabilities in North America.

www.channelasia.tech