Vietnam’s leading corporation, FPT, has made a strategic move to enhance its product engineering delivery capabilities in North America by acquiring the US-based company, Cardinal Peak. Cardinal Peak, known for its 20 years of expertise in delivering end-to-end product engineering services, including hardware, embedded software, IoT, cloud, and mobile product development, services over 300 companies across various industries.
With this acquisition, FPT gains access to 100 experts and an office in the United States. The global IT firm aims to double its product engineering services revenue in the Americas within the next two years. This expansion is backed by a commitment to invest USD 100 million in the strategic market by the end of 2023.
While Cardinal Peak will remain an independent entity, it now has access to enhanced service offerings, a larger scale, and global delivery options through FPT’s extensive network. The strategic investment was celebrated in Hanoi, Vietnam, with key leaders from both companies expressing their optimism and alignment in work methodologies and a people-focused mindset.
FPT Corporation CEO Nguyen Van Khoa anticipates that this synergy will lead to the development of new digital products, contributing to the advancement of Vietnam’s IT industry. Americas represent one of FPT’s largest overseas markets, with a presence in 14 offices across the United States, Canada, and Latin America.
FPT’s journey of international expansion includes strategic acquisitions and investments, with a focus on strengthening consulting capabilities, expanding the customer base, and increasing overseas market revenue. The acquisition of Cardinal Peak aligns with FPT’s commitment to innovation and growth in the global technology landscape.
Through this strategic acquisition, FPT Corporation is poised to further solidify its presence and influence in the North American technology market, enabling it to better serve its growing clientele and contribute to advancements in the IT industry.
