Vietnam software outsourcer closes multimillion-dollar contract with E.ON

A leading Vietnamese software company has inked a service supply deal with European utility E.ON, with a value projected to be US$10 million

FPT Software will provide software development, testing, and project management services for the Germany-based company, which runs one of the world's largest investor-owned electric utility service providers, a source from the Vietnamese firm said Monday.

The value of the three-year contract was not immediately disclosed, but FPT Software expects it could be as much as $10 million.

FPT Software was established as a software outsourcing business in 1999. The Hanoi-headquartered company is Vietnam's largest and one of the fastest growing software outsourcing firms, according to its website.

The firm has completed more than 6,000 software outsourcing projects with a total volume of 2.5 million man-days in the last ten years.

The E.ON contract is the second major deal the Vietnamese company has closed with a utility company in less than a year, after its acquisition of a Slovakian firm last summer.

RWE IT Slovakia, a subsidiary of German electric utilities company RWE, has become 100 percent owned by FPT Software following a merger and acquisition deal on June 18.

Germany proves a key market for FPT Software, as the company previously signed a contract on software development, testing, and solution design with DCI AG, a German film that provides innovative e-commerce solutions.

The official website of FPT Software is also available in German and Japanese, besides the default English.

The German market also had the largest contribution to the VND421 billion ($19.8 million) in revenue FPT Software generated from the European market last year, an impressive 117 percent growth rate in comparison with 2013. 

Source: TUOI TRE NEWS

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