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FPT buys 90% stake in American technology consulting company

Thursday - 12/07/2018 21:10
The transaction value is about $USD 40-50 million, of which $USD 30 million is paid directly and the remainder is based on Intellinet's performance.
On July 12, FPT Corporation (FPT) announced the acquisition of a 90% stake in Intellinet Consulting (Intellinet), one of the fastest-growing technology consulting firms in America.

According to Nguyen The Phuong, FPT's deputy general director, the total value of this deal is about $USD 40-50 million. In particular, FPT paid $USD 30 million directly to Intellinet's shareholders and the rest will be based on the company's performance for the next three years, valued at $USD 10-20 million.

The deal is expected to help FPT improve its position as a partner in providing higher value and comprehensive technology services to its customers, from consulting, design to implementation and maintenance, especially in digital conversion projects. The combination of FPT and Intellinet also helped FPT boost its operations in the US market, as well as helping Intellinet become a global consulting firm.

According to estimates by FPT Board, revenue from the US market in 2017 of $USD 65 million is expected to exceed $USD 100 million in the next 12 months with the contribution of Intellinet. Net margin of this market is also expected to increase from the current 17% to over 20%.

Established in 1993, Intellinet is rated by Consulting Magazine as one of the fastest growing technology consulting firms in the US (based on a 20-25% revenue growth for 2013-2016).
 
The company headquartered in Atlanta (USA) with sales in 2017 reached $ 30 million. Intellinet works in the area of ​​technology consulting with 150 experienced consultants and 200 large clients, including many Fortune 500 clients.

Source: Cophieuviet.com

 Tags: Intellinet, FPT

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