Vietnam tech firms on the prowl for US clients seeking ‘India+1’ strategy

[HO CHI MINH CITY] Despite economic headwinds and fears of a recession in the United States, some of Vietnam’s largest technology firms see a “silver lining” in making significant investments, as they look to beef up their footprint in the world’s largest economy.

In February, IT solutions provider FPT Software – a unit of leading Vietnamese technology firm FPT Corporation – acquired the IT services division of US-based Intertec International for an undisclosed fee. Chief executive Pham Minh Tuan said the latest deal will strengthen his company’s nearshore IT services delivery capabilities to the Americas.

Through the deal, FPT Software gained 300 employees who now work with and support clients, both in the US and in Spanish-speaking markets including Costa Rica, Colombia and Mexico, where Intertec runs several technology centres.