Vietnam-headquartered IT services group FPT has taken a majority ownership stake in Vietnamese business management platform provider Base Enterprise, a move aimed at building out the company’s digital transformation ecosystem.
Founded in 2016 and launched publicly in 2017, Base Enterprise – styled Base.vn – has become known for its business management platform, which has been used more than 5,000 customers across a wide range of sizes and sectors, according to FPT.
It is hoped that the investment by FPT and subsequent cooperation between the two companies will reinforce the two companies' ability to jointly promote the comprehensive digital transformation ecosystem for 800,000 enterprises.
“A strong similarity between FPT and Base.vn is aspiration,” said Truong Gia Binh, FPT Corporation chairman. “Aspiration for a mighty Vietnam, aspiration that we will reach out to the world.
“Over the past twenty years, FPT has never ceased to establish the dominant position of Vietnam on the global digital map. And now we can help Base.vn reach a new height that every young Vietnamese entrepreneur, like [Pham Kim Hung, founder and CEO of Base.vn] could ever dream for.
“Right after this event, leaders of FPT and Base.vn will gather together to make our aspirations into reality,” he added, referring to the event the two companies held on 4 May to announce the investment.
FPT noted that the Base.vn platform easily integrates with its digital transformation solutions, and it is expected to immediately bring more than 100 digital conversion solutions to Base.vn itself.
Base.vn products also inherit the latest core technologies from FPT Corporation such as FPT.AI, blockchain, cloud, digital signature and more to provide more effective solutions, the company said. With its network of branches in 30 countries, FPT will also help Base.vn compete in the global market.
For Hung, FPT’s backing will see the company dramatically accelerate its product development initiatives.
"Base.vn has been solving three big issues of businesses including productivity enhancement management, information transparency, human resources management and development,” Hung said. “We plan to develop other major solutions such as financial management, customer management and business development on one unified platform.
“The cooperation with FPT, a leading technology company with a wealth of experience and human resource, will help [Base.vn] to save at least 10 years to become a comprehensive digital transformation ecosystem for the world's leading business,” he added.
The investment comes as FPT works to build out its digital business ecosystem with the launch of its new digital transformation consulting subsidiary FPT Digital.
The company revealed the launch of the new business, the eighth member company of FPT Corporation, in late February, saying at the time that it could provide digital transformation roadmap consulting services for businesses while at the same time promoting new initiatives and innovative business models.
The move reflects FPT Corporation’s decision to shift its focus to the digital transformation market after two decades as a major player in the Southeast Asian IT services industry.
The company recently committed to increasing digital transformation revenue from overseas markets by 50 per cent in 2021, reaching a target of US$209 million as the technology giant expands beyond Vietnamese heartlands.
Announced via the company’s annual shareholder meeting, the business is prioritising the delivery of cloud, robotics process automation (RPA) and low-code services, forecast to grow at 50 per cent, 150 per cent and 150 per cent in revenue respectively during the next 12 months.