HANOI, VIETNAM — Global technology powerhouse FPT is dramatically expanding its footprint in the crucial South Korean market. The company has finalized a deal to acquire up to a 10% equity stake in Blueward (formerly ISTN), recognized as South Korea’s largest independent provider of SAP consulting and IT services.
The investment is part of a comprehensive Strategic Investment Agreement and Master Service Agreement designed to fuse the strengths of both companies. The primary goal is to create an SAP consulting giant capable of handling the most complex Enterprise Resource Planning (ERP) projects in Korea. The deal precedes Blueward’s anticipated IPO in 2028.
A Powerful Combination:
Blueward’s Strength: Extensive local SAP ERP consulting experience and a powerful client portfolio in South Korea.
FPT’s Strength: Global scale, nearly 2,000 SAP specialists worldwide, and decades of experience in digital transformation.
The new partnership will focus on jointly delivering projects, utilizing co-selling and co-delivery models to speed up execution and enhance service quality for major enterprise clients. The combined offering will cover everything from SAP S/4HANA implementation to cutting-edge SAP AI use cases and specialized financial solutions like IFRS reporting and risk management integration.
Nguyen Khai Hoan of FPT Software underscored the move, citing strong demand for integrated SAP transformation services in the region. Blueward CEO Kim Jong-do highlighted the alliance as critical to advancing Blueward into an AI- and cloud-native organization, improving customer efficiency and trust.