An FPT representative said the deal sets forward a long-term investment with a three-year roadmap with millions of dollars. Specific figures will be announced later.

The representative said FPT is pursing the investment because smart homes have great potential but have not yet taken off in Viet Nam.

“FPT sees great value in Homa’s smart home technologies and solutions," FPT’s general director Nguyen Van Khoa said on the news site Business Wire. "With a network of partners and clients spanning 45 countries and territories, we are excited to work with Homa to bring this family of products to millions of residents and help to accelerate the development of smart buildings and smart cities in Asia."

Nguyen Duc Long, CEO of Homa Techs, said the goal of Homa Techs Inc in Viet Nam is to give smart home companies more solutions to satisfy customers' needs and develop smart buildings and smart urban areas.

On the same day, Homa Techs launched multi-protocol IoT hubs which can integrate all smart devices in a house into IoT applications. Up to 240 devices could be connected at the same time, including switches, smart plugs, light controllers, sensors, door bells, locks, cameras, mobile apps and home service software.

Homa’s representative said the cost to install the necessary smart devices in a 150sq.m apartment would be about US$2,500-3,000. FPT is also working with partners to reduce costs in Southeast Asia. — VNS