FPT, Vietnam's largest enterprise, has announced the acquisition of Cardinal Peak, a US-based company, as a strategic step to boost its
product engineering delivery capabilities in North America.
As part of FPT’s global growth strategy, this investment leverages Cardinal Peak's expertise and 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, as per business wire.
FPT additionally adds 100 specialists and one office in the United States as a result of this investment. With these new resources, the global IT business plans to more than double its product engineering services revenue in the Americas over the next two years. This ambition is fueled in part by a USD 100 million investment commitment in this important market by the end of 2023.
Meanwhile, Cardinal Peak will continue to operate independently, but will now have access to expanded service offerings, increased scale, and worldwide delivery possibilities via FPT's enormous network.
Cardinal Peak CEO Mark Carrington, FPT Corporation CEO Nguyen Van Khoa, FPT Software Chairwoman Chu Thi Thanh Ha, FPT Software CEO Pham Minh Tuan, and other top management from both companies attended the
strategic investment signing event in Hanoi, Vietnam. FPT and Cardinal Peak emphasized their agreement in working methods and a
people-focused approach, as well as their anticipation for future chances. FPT Corporation CEO Nguyen Van Khoa anticipates that the collaboration between FPT and Cardinal Peak will result in new digital goods that will help to grow
Vietnam's IT sector.
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