Monday 11 April 2022

*UKHotViewsExtra* FPT Software: Bringing Vietnamese talent and innovation to the UK

FPT softwareFPT Software may not be a name familiar to many of our readers in the UK but this is a company who has been a huge success across South-east Asia, Japan and parts of Europe, and is now bringing its experience and services to the UK market. We recently attended their UK Launch event and also had a chance to talk to UK Managing director Mohan Naidu about their plans for the business.

Founded in 1988 the FPT corporation is the largest IT services company in Vietnam, it generates US$1.6bn in revenue and has over 30,000 employees across 27 countries. FPT Software is a subsidiary founded in 1999 and today is one of Vietnam’s largest software companies generating more than US$600m in revenue with over 22,000 employees. They have been operating in the UK through partners for over 20 years before officially launching the UK business in 2019.

Clients include large multinationals such as Carlsberg, Continental, Siemens, Bayer and UK recruiter Harvey Nash. FPT was one of several companies (along with IBM, Accenture and Capgemini) chosen to deploy the Skywise platform developed between Airbus and Palantir, which is used by over 140 airlines around the world. FPT also provides IT services and SAP solutions to RWE AG, one of Europe’s largest energy providers.

In 2009, when FPT Software was first spun out of the larger FPT group, the business turned over US$42m, fast forward to 2021 and the business generated US$632m, representing growth of over 1,400% in 12 years. In the past 12 months alone, the business saw YoY growth of over 23%, right up there with Top UK performers such as Endava and Kainos that we identified in our report The Hot 10 UK Application Services Suppliers. While the UK business is still small (~£2m), MD Naidu has strong aspirations, hoping to triple the size of the business this year.

Entering a new geographical market, and one as competitive as the UK, is never easy, especially when your mainHV premium business is HQ’ed over 6,000 miles away. However, with the backing of the global organization and a pool of Vietnamese talent, FPT Software certainly have the capability and scale to be competitive.

TechMarketView clients, including subscribers to UKHotViewsPremium, can read more by downloading the full article here *UKHotViewsExtra* FPT Software: Bringing Vietnamese talent and innovation to the UK.

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Posted by Simon Baxter at '17:27' - Tagged: software   applications