Vietnams FPT acquires US product engineering services firm Cardinal Peak
Summary
As part of FPT’s global growth strategy, this investment leverages Cardinal Peak’s expertise and 20-year experience of delivering end-to-end product engineering services, including hardware, embedded software, internet of things (IoT), cloud, and mobile product development, to over 300 companies in automotive, healthcare, robotics, consumer electronics, streaming media, security and safety, and aerospace industries, FPT said in a statement on Monday. Meanwhile, Cardinal Peak will remain an independent entity but now has access to enhanced service offerings, greater scale, and global delivery options through FPT’s extensive network. Meanwhile, Cardinal Peak Chief Executive Officer Mark Carrington said with their combined teams, they can provide greater value to our customers, accelerate innovation in the industries they serve, and expand career opportunities for their employees. Since 2014, FPT has been conducting merger and acquisition (M&A) with top technology companies worldwide to strengthen its consulting capabilities, expand its customer base, and increase revenue in overseas markets. FPT also made a non-controlling investment and became a strategic shareholder of LTS, Inc., a Japan-based consulting, business management, and digital transformation company.