FPT Software has acquired Intertec International’s IT services division as part of plans to strengthen its North American nearshore delivery capabilities.
With the expanded investment, FPT Software aims to meet the demand for agile software engineering and bridge the timezone difference while continuing to leverage and build upon Intertec’s delivery centres and operational experience in Costa Rica, Colombia, and Mexico.
“Each M&A deal bears good fruit to FPT. We expect this acquisition to resonate greatly with FPT's goal of expanding business operations globally, especially in the English-speaking markets,” said Dr Truong Gia Binh, chairman of FPT Corporation.
The Vietnamese IT services firm announced its initial stake in Intertec back in July 2021, with the intention of meeting customer demand across the globe.
The strategic investment in Intertec was expected to provide FPT Software – and its North America subsidiary, FPT USA Corp, in particular – secure access to Intertec’s nearshore technology delivery centres in Costa Rica and Colombia.
FPT Software had also hoped to tap into Intertec’s operational experience in the Latin America (LATAM) market more broadly.
“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 realise their speed-to-market goals and provide 24/7 support.”
Meanwhile, Intertec Engineering, the company’s technical services division focused on aerospace and government, will remain an independent entity.
Following the acquisition, Intertec customers will have delivery options through FPT Software’s network of 27,000 employees in 29 countries, and gain access to service offerings, such as data, cloud, digital platforms, robotic process automation (RPA), artificial intelligence (AI), internet of things (IoT) and managed services.
“We have worked with FPT for several years and we look forward to taking our relationship to the next level,” added Rickard Hedeby, CEO of Intertec. “By combining forces, we can provide greater value to our customers and expand career opportunities for our employees.”
Under the new agreement, FPT Software will gain nearly 300 employees and four offices. It was also revealed that the IT services firm is setting its sight on growing its headcount in the Latin American region to 1,000 in the next two years.