FPT acquires US engineering firm
Vietnamese FPT announces its acquisition of the US-based Cardinal Peak in a move to strengthen its product engineering delivery capabilities in North America.
Cardinal Peak brings expertise and 20-year experience of delivering end-to-end product engineering services, including hardware, embedded software, IoT, cloud, and mobile product development, to over 300 companies in automotive, healthcare, robotics, consumer electronics, streaming media, security and safety, and aerospace industries.
Through this investment, FPT is gaining 100 experts and one office in the United States. With these additional resources, the global IT firm sets its sights on doubling its product engineering services revenue in the Americas in the next two years. This goal is partially driven by its investment commitment of USD 100 million by the end of 2023 in this strategic market.
Cardinal Peak will remain an independent.
“Cardinal Peak is a well-respected name in the product engineering industry. The team’s track record of effective collaboration and swift innovative solutions delivery will be a tremendous asset to FPT,” said Phuong Dang, FPT Software’s SEVP and Head of FPT Americas, Europe, and Middle East, in a press release. “We trust that this will be another fruitful addition to our global expansion.”
Americas is currently among FPT's largest overseas markets, where it has 14 offices across the United States, Canada, and Latin America - including nearshore facilities in Colombia, Costa Rica, and Mexico.