VIETNAM

The Vietnamese technology firm FPT Corp says it has agreed to pay at least US$30 million for a 90% stake of the US-based consulting firm Intellinet Corp. The acquisition by FPT, one of Vietnam’s top technology firms, reflects the company’s goal of adding consultancy to its information technology services, alongside its telecommunications, retail and education sectors. FPT chairman Truong Gia Binh said the acquisition would allow FPT to offer comprehensive services and elevate Vietnam’s position on the global technology map. Intellinet’s value is estimated at $40-50 million, said Nguyen The Phuong, FPT’s vice-general director. Intellinet has a client base of 200, was founded in 1993, and had revenue of $30 million in 2017, the companies said in a statement.