Vietnam software firm takes over RWE subsidiary

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Photo credit: FPT Photo credit: FPT

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Vietnam’s top software firm, FPT, has inked a deal in Berlin to take over a Slovakian IT subsidiary of the European energy conglomerate RWE.
The transaction was FPT's first overseas acquisition of an information technology firm--and may be the first such transaction to have been recorded in Vietnam's history.
RWE IT Slovakia will continue to provide IT solutions directly to RWE, but on behalf of FPT and under the name FPT Slovakia, according to a release published by the Hanoi-based firm.
FPT said the deal will bring FPT a multi-million dollar, five-year, software contract. Chairman Truong Gia Binh said the acquisition “was a turning point that changed FPT's status in the European and global market.”
Binh said the deal will better-position the company to provide long-term and comprehensive IT services to energy companies in Europe, and potentially in countries like Japan and the US.
He told Bloomberg earlier this year that the company plans to complete two takeovers this year to boost international sales.
FPT, whose clients include Microsoft Corp. and Panasonic Corp., earned $130 million from overseas markets in 2013 and plans to raise that figure to $340 million by 2016.
Its overseas revenues during the first five months this year surged nearly 20 percent year on year to $52 million.

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