Vietnam-based FPT buys majority stake in US consultancy Intellinet

Vietnam’s top IT firm FPT has purchased a 90% stake in US management and technology consultancy Intellinet. The deal is worth an initial $30 million with up to $20 million added based on Intellinet’s performance in the next year. The transaction enhances FPT’s ability to provide management consulting services to its clients.

Intellinet is a US management and technology consulting firm with offices in Atlanta, Boston, Charlotte, Hartford, and Raleigh. The firm provides services in strategy and program execution, digital engagement and insight, and technology platforms and operations. Founded in 1993, the consultancy has a client base of 200 and posted revenues of $30 million last year.

Vietnam’s top IT services firm FPT announced that it has purchased a 90% stake of the US consultancy. Founded in 1988, FPT has a total employee headcount of 32,000 across 33 countries, and had revenues of $1.93 billion in 2017. The deal will see Intellinet continue as an independent organization, though both companies will be able to leverage each other’s strengths. FPT will pay between $30-$50 million for the majority stake in the firm.

The deal will bolster FPT’s ability to deliver management consulting solutions, making it more of a one-stop shop capable of offering comprehensive services to clients. Intellinet, on the other hand, will gain access to FPT’s deep offshore resources in digital transformation, as well as its extensive client base.“As technology partners of global enterprises in the Fourth Industrial Revolution, we realize that there exists a huge demand in Digital Transformation consultancy and implementation services,” said Mr. Truong Gia Binh, Chairman of FPT. “By making a strategic investment in Intellinet, FPT is now more than ready to provide comprehensive Digital Transformation solutions to top companies, elevating Vietnam’s position on the global technology map.”

FPT has previously partnered with tech heavyweights like Amazon Web Services, Microsoft, Siemens, and others. The Vietnamese firm has a history of strong service provision in the US, having provided IT support to nearly 200 customers in industries ranging from aerospace to banking to healthcare. With the strategic addition of Intellinet’s 150 professionals, FPT will expand its US presence while allowing it to offer a full range of technology solutions – including consulting, system design, development, implementation, and maintenance. 

“We are thrilled to join the FPT family,” added Mark Seeley, Intellinet’s Chief Executive Officer. “By combining our business acumen, industry expertise, and technology execution, our teams can deliver more innovation and transformational solutions that will truly make a measurable impact on our clients’ businesses.”