Vietnam’s FPT group on June 18 won a merger and acquisition deal to takeover the Germany-based RWE IT Slovakia company, the first of its kindof the Vietnamese business as well as the country’s IT sector inoverseas market.

Under the deal, RWE IT Slovakia, a subsidiaryof the RWE group, is renamed the FPT Slovakia company and becomes theFPT Software Company’s largest client in the European market, withcontracts worth tens of millions of USD.

RWE General DirectorPeter Terium said the deal marked an obvious advance in thecollaboration between the two groups, enabling the FPT to seek newcustomers in the continent.

He added that bright prospects are visible in the two businesses’ cooperation in both IT services and others.

FPT Group Chairman Truong Gia Binh said the deal opens up more opportunities to boost the development of both sides.

In face of fierce competition in the European electricity market, theGerman group wishes to pursue a new business strategy that focuses onthe field, instead of pouring annually some 1 billion USD into the ITsystem.

He said the RWE highly valued the Vietnamese group’slarge scale of operation as it provides services for a range of fields,including electricity, aviation, telecommunications and banking.

Founded in 2004, RWE IT Slovakia mainly provides IT services,especially Service Advertising Protocol (SAP) and Smart Homesolutions for its parent company that earned 70 billion USD lastyear.-VNA