Global IT corporation FPT and Blueward—formerly ISTN and recognized as South Korea’s top independent SAP consulting and IT services provider—have signed both a Strategic Investment Agreement and a Master Service Agreement. Through its South Korean subsidiary, FPT will make a strategic investment to acquire up to a 10% equity stake in Blueward with the deal expected to be finalized before Blueward’s planned IPO in 2028.
The partnership aims to boost the companies’ combined strength in SAP ERP delivery expand their consulting capabilities and improve their competitive positioning in the Korean enterprise technology market. Together they plan to bring more efficient, scalable and high-quality SAP solutions to customers across the region.
FPT and Blueward will combine their strengths to help major South Korean companies with large digital transformation projects. Blueward will bring its strong SAP ERP consulting skills, long-standing client relationships, and deep understanding of the local enterprise market. FPT will add support from its team of nearly 2,000 SAP specialists and its global experience in running big digital and business transformation programs.
Together, the two companies will use co-selling and co-delivery models to speed up project execution, reduce costs, and improve the quality of services offered to enterprise customers. This partnership aims to deliver faster, more efficient, and more reliable digital solutions across South Korea’s business landscape.
The partnership will help FPT broaden its portfolio of strategic SAP ERP projects and services. This includes consulting, S/4HANA implementation, SAP BTP extensions, SAP AI-driven use cases, and ongoing application management. With Blueward’s support, FPT will be able to deliver more advanced and scalable SAP solutions to customers.
The collaboration will also move beyond SAP ERP into finance and capital markets. By combining Blueward’s strong financial consulting background with FPT’s strengths in data, AI, and cloud, the two companies will offer integrated solutions for brokerage operations, clearing and settlement, risk management, market monitoring, 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 CEO Kim Jong-do stated: “This investment will provide optimal cost efficiency and trust to our 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.”
With more than 20 years of collaboration with SAP, FPT has grown into a major Regional Strategic Partner in the APJ region. The company is widely recognized for its strong digital transformation capabilities and reliable regional delivery expertise.
In South Korea, FPT has built a solid foundation over the past decade. The company now provides complete SAP business services—including SAP Cloud Transformation, SAP AI solutions, and ERP offerings—supported by a team of 300 local experts and over 2,500 offshore engineers.
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