Intel, TPG invest $37M in Vietnam tech firm

October 24, 2006 – Intel Corp.’s VC arm and the Texas Pacific Group are investing $36.5 million in Vietnam’s leading technology company FPT Corp., to help the firm develop new products and expand internationally.

FPT is Vietnam’s biggest software producer and technology outsourcing firm, with 2005 revenues of nearly $520 million and 70% average sales growth over the last five years.

“We believe this deal underscores the potential and capabilities within Vietnam and is a milestone in the country’s efforts towards joining the WTO,” said FPT, in a statement.

Intel already has committed a sizeable investment in Vietnam, building a $300 million backend chip plant in Ho Chi Minh City.


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