Vietnam-based information technology (IT) corporation FPT is acquiring up to a 10 percent stake in Blueward, formerly ISTN and South Korea’s independent SAP consulting and IT services firm, to reinforce SAP enterprise resource planning (ERP) capabilities and accelerate digital transformation in the region.
FPT said in a statement on Monday that the duo have signed a strategic investment agreement and a master service agreement.
Through its subsidiary in South Korea, FPT will make a strategic investment to secure up to a 10 percent equity stake in Blueward.
The investment is planned to be completed before Blueward’s IPO in 2028.
Both sides aim to strengthen SAP ERP delivery capabilities, deepen consulting expertise, and enhance competitiveness in the Korean enterprise market.
FPT and Blueward will leverage complementary strengths to support large-scale digital transformation programs for South Korea’s leading enterprises.
Blueward will contribute deep SAP ERP consulting expertise, established client relationships, and extensive knowledge of the enterprise landscape, while FPT will augment this foundation with nearly 2,000 SAP experts and extensive international experience leading large-scale digital and business transformation initiatives.
Together, they will implement co-selling and co-delivery models designed to accelerate execution, optimize costs and enhance service quality for enterprise customers.
The partnership will enable FPT to expand its strategic SAP ERP projects and services across consulting, S/4HANA implementation, SAP BTP extensions, SAP AI use cases, and application management.
Beyond SAP ERP, the collaboration will extend into finance and capital markets, leveraging Blueward’s financial consulting expertise and FPT’s capabilities in data, artificial intelligence (AI), and cloud to deliver integrated solutions for brokerage operations, clearing and settlement, risk management, market surveillance, IFRS reporting, and SAP FI/CO integration.
“Across South Korea and the broader APAC region, demand for integrated SAP solutions continues to rise, especially as more companies accelerate their migration to the next-generation ERP platform, SAP S/4HANA,
“Leveraging Blueward’s deep local expertise and FPT’s global capabilities in SAP and large-scale digital transformation, we can accompany enterprises in building more agile, intelligent, and competitive operations for the future,” said Nguyen Khai Hoan, FPT Software Senior Executive Vice President, FPT Corporation.
Blueward Chief Executive Officer Kim Jong-do stated this investment will provide optimal cost efficiency and trust to the firm’s customers, while also marking a significant milestone in Blueward’s leap forward as an AI and cloud-native company.
“Combining FPT’s global resources with our on-site expertise, we will innovate the development paradigm and demonstrate our strong commitment to supporting our customers to secure a competitive edge in the new digital environment,” he added.
With over two decades of partnership with SAP, FPT said it has become a key regional strategic partner in Asia Pacific and Japan (APJ), recognized for its excellence in digital transformation and regional delivery.
In South Korea, FPT has built a strong presence over nearly a decade, delivering end-to-end SAP business services including SAP Cloud Transformation, SAP AI and ERP offerings through a workforce of more than 300 local professionals and over 2,500 offshore engineers.
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