<article>Vietnamese technology firm FPT Corp agreed to pay at least $30 million for 90 percent of U.S.-based consulting firm Intellinet Corp, FPT said on Thursday.</article>

Vietnamese technology firm FPT Corp agreed to pay at least $30 million for 90 percent of U.S.-based consulting firm Intellinet Corp, FPT said on Thursday.
The acquisition by FPT, one of Vietnam&#8217;s top technology firms, reflects the company&#8217;s goal of adding consultancy to its information technology services, alongside its telecommunications, retail and education sectors.
FPT chairman Truong Gia Binh said in a joint statement the acquisition would allow FPT to offer comprehensive services and elevate Vietnam&#8217;s position on the global technology map.
Intellinet&#8217;s value is estimated at $40-$50 million, said Nguyen The Phuong, FPT&#8217;s vice general director. FPT will initially pay $30 million for the stake and then supplement that price depending on the business performance of the consulting unit. FPT declined to give further details.
Unlisted Intellinet has a client base of 200, was founded in 1993, and had revenue of $30 million in 2017, the companies said in a statement.
Both FPT and Intellinet want to take advantage of each others&#8217; existing client base. FPT wants to utilise Intellinet&#8217;s existing 150 advisors to expand its businesses and attract more deals.
FPT&#8217;s first-quarter net income rose 21 percent from the same time last year to 653 billion dong ($28.3 million), the company&#8217;s financial statements showed. Its key markets are Japan, the United States and Europe.
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<h4>Reuters</h4>

 Vietnamese technology firm FPT Corp agreed to pay at least $30 million for 90 percent of U.S.-based consulting firm Intellinet Corp, FPT said on Thursday.

Vietnam's FPT buys 90% stake in US consulting firm Intellinet for $30m

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Vietnam's FPT buys 90% stake in US consulting firm Intellinet for $30m

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