Synnex invests to own 47% of FPT Trading

Hanoi, September 12^th 2017, FPT Corporation has signed an investment agreement with the strategic partner Synnex Technology International Corporation (Synnex) – A USD 33 billion in revenue corporation and being the world’s third largest distribution group in IT, telecom and IC component distribution. Accordingly, Synnex will invest to own 47% of charter capital of FPT Trading Company Limited (FPT Trading). In such a transaction which FPT Trading was valued at over USD 80 million, FPT will receive VND 932 billion including the amount paid by Synnex and FPT Trading’s retained earnings.

Established in 1975, Synnex is a global distribution group, which has set its footprints in 38 countries and territories with more than 200 offices worldwide, and the distribution channels reaching 60% of the world’s population.

“This is the best way for Synnex to enter the lucrative consumer technology, telecom and IC component market in Vietnam. FPT Trading is the best distribution company in Vietnam and has been delivered a strong track record in building, managing and operating an effective distribution network over the past twenty years”, said Mr. Evan Tu, CEO of Synnex.

“We are excited to become the strategic shareholder of FPT Trading. With Synnex’s expertise and experience in enriching partner’s product management, channel development, logistics and business operation, we can further advance FPT Trading’s business quality and performance”, affirmed Mr. Tu.

Mr. Truong Gia Binh, FPT Corporation’s Chairman said: “Synnex is a leading global distribution company who has succeeded and been the leader in many markets, who have an advanced and optimum distribution network. We believe that with Synnex’s investment, FPT Trading will have more effective development strategy going forward”.

Besides, FPT Corporation’s Board of Directors also approved the resolution that allows the selling of maximum of 5% of FPT Trading’s charter capital to employees with significant contribution to the company in the coming years.

FPT Trading is currently the largest ICT – Telecom distributor in Vietnam with its network including 2,771 agents in 63/63 cities and provinces nationwide. Through such a channel, products from nearly 40 vendors which are the world’s renowned brands have been distributed to Vietnamese consumers.