The IT services subsidiary of US-based Intertec International has been purchased by FPT Software, a tech services company with offices in Vietnam.
The magnitude of the agreement was kept secret.
The Hanoi-based company said in a statement that FPT Software will expand on Intertec’s operational expertise and delivery hubs in Mexico, Colombia, and Costa Rica. According to Intertec, its technical services segment, which focuses on aerospace and government clients, will operate independently.
“We expect this acquisition to resonate greatly with FPT’s goal of expanding business operations globally, especially in the English-speaking markets,” said FPT Corporation chair Truong Gia Binh.
Following the acquisition, FPT Software will take over four of Intertec’s offices and hire up to 300 new staff members. For the next two years, the Vietnam-based corporation hopes to add 1,000 more employees to the South American market.
29 nations are home to 27,000 workers of FPT Software. To expand its footprint in Latin America, the corporation made an undisclosed investment in Intertec in 2021.