(VOVworld) - FPT, the leading Vietnamese ICT company, signed a deal with Slovak energy corporation RWE in Berlin on Wednesday to purchase its subsidiary RWE IT Slovakia.

RWE Chief Executive Officer Peter Terium and FPT President Truong Gia Binh shaking hands after signing the M&A deal

This is the first mergers and acquisitions (M&A) deal of FPT and Vietnam’s IT sector. Under the deal, RWE will become FPT Software’s biggest client in Europe, with a score of contracts worth tens of millions of US dollars over five years. The company will be renamed FPT Slovakia and wholly invested by FPT Software there.

RWE Chief Executive Officer Peter Terium said cooperation between FPT and RWE is an important step for both and will elevate FPT’s position in Europe.