FPT acquires 20-year-old technology company in the US.

FPT Group announced the acquisition of Cardinal Peak, a 20-year-old technology services provider in the North American market.

On the morning of November 6th, FPT Group announced the acquisition of Cardinal Peak, a 20-year-old technology services provider in the North American market, with the aim of enhancing its competitiveness and service quality in the Americas in particular and English-speaking markets in general, especially in emerging technologies.

Cardinal Peak specializes in providing comprehensive technology services, including hardware, embedded software, IoT, cloud computing, and mobile product development, to over 300 companies across the automotive, consumer electronics, healthcare, streaming content, robotics, security, and defense/aerospace sectors.

FPT and Cardinal Peak leaders at the merger and acquisition signing ceremony.

FPT

Cardinal Peak will retain its current brand and operating model. Through this transaction, FPT expects Cardinal Peak to help the group double its revenue from product engineering services (consulting, design, development, and testing of new technologies, including both hardware and software, to create the best products) in the US market within the next two years. Conversely, the cooperation with FPT will help Cardinal Peak enhance its capabilities and expand its service offerings and customer base globally.

With the addition of Cardinal Peak, FPT will gain a workforce of hundreds of talented engineers with in-depth knowledge of IoT, cloud computing, mobile technologies, and a deep understanding of the unique needs of customers in each field.

Speaking at the announcement ceremony, FPT CEO Nguyen Van Khoa expressed his hope that this deal would help both parties create world-class new products on a global scale.

The Americas are currently one of FPT's largest overseas markets, with a system of 14 offices across the United States, Canada, Colombia, Costa Rica, and Mexico.

Since 2014, FPT has continuously carried out mergers and acquisitions with leading technology companies worldwide . FPT's first M&A deal was the acquisition of RWE IT Slovakia (a subsidiary of the leading European energy group - RWE) to expand its customer base in public utility infrastructure, and it was also the first M&A deal in Vietnam's information technology sector in a foreign market. Most recently, in October, FPT announced that it had become a major investor in Landing AI - a leading computer vision and AI software company from the US...

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