Intel, TPG to invest in Vietnamese IT company

Vietnam's FPT Corp., a provider of information and communications technology, has issued new shares to private equity firm Texas Pacific Group (TPG) and Intel Capital. Under the terms of the agreement, FPT received a total investment of Rs.168.67 crore ($36.5 million), from TPG and Intel Capital.

FPT reported 2005 revenues of more than Rs.2,389.06 crore ($517 million), and revenue growth averaging 70 per cent annually over the past five years, making it one of the largest private technology companies in Vietnam by revenue.

FPT is the Vietnamese market leader in mobile distribution, systems integration, software outsourcing and development, telecom, Internet and e-media content, and computer assembly. International technology partners include IBM, Oracle, Microsoft, Cisco System, and Intel.

Established in 1988, FPT employs the largest number of informatics engineers and specialists in the country. The company has 6,000 employees.

- Mark LaPedus
Electronics Supply & Manufacturing