Photo: ictnews.vn

Vietnam’s FPT group on June 18 won a merger and acquisition deal to take over the Germany-based RWE IT Slovakia company, the first of its kind of the Vietnamese business as well as the country’s IT sector in overseas market.

Under the deal, RWE IT Slovakia, a subsidiary of the RWE group, is renamed the FPT Slovakia company and becomes the FPT Software Company’s largest client in the European market, with contracts worth tens of millions of USD.

RWE General Director Peter Terium said the deal marked an obvious advance in the collaboration between the two groups, enabling the FPT to seek new customers in the continent.

He added that bright prospects are visible in the two businesses’ cooperation in both IT services and others.

FPT Group Chairman Truong Gia Binh said the deal opens up more opportunities to boost the development of both sides.

In face of fierce competition in the European electricity market, the German group wishes to pursue a new business strategy that focuses on the field, instead of pouring annually some 1 billion USD into the IT system.

He said the RWE highly valued the Vietnamese group’s large scale of operation as it provides services for a range of fields, including electricity, aviation, telecommunications and banking.

Founded in 2004, RWE IT Slovakia mainly provides IT services, especially Service Advertising Protocol (SAP) and Smart Home solutions for its parent company that earned 70 billion USD last year.

Source: VNA