AYALA-LED Globe Telecom Inc. on Thursday said it had entered into joint venture agreement with Singapore-based NCSI Holdings Pte. Ltd., a subsidiary of Singtel-owned NCS Pte. Ltd.'s (NCS) unit, under which NCS would acquire 51 percent of Globe's information technology (IT) arm, Yondu Inc.
AYALA-LED Globe Telecom Inc. on Thursday said it had entered into joint venture agreement with Singapore-based NCS I Holdings Pte. Ltd., a subsidiary of Singtel-owned NCS Pte. Ltd.'s unit, under which NCS would acquire 51 percent of Globe 's information technology arm, Yondu Inc. In a disclosure, Globe said the joint venture was valued at P1.868 billion. Yondu will become a joint venture of NCS I and Globe , with NCS I having 51-percent ownership and Globe retaining a 49-percent stake.
Globe said that 'Yondu's local footprint and NCS' strengths in digital, cloud, data and artificial intelligence services, and broad network across the Asia-Pacific region are envisioned to transform the JV into a regional player equipped with global expertise to develop customized digital solutions and advanced tools in accordance to customer specification and timeline.
Sells Majority Stake In Yondu To NCS
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Globe equips 3,000 students with digital safety lessonsGlobe also strengthened its digital safety advocacy through its Globe of Good influencers
Read more »
DS Finance, Yondu band together to empower Filipino entrepreneursAmongst the million business enterprises the Philippine Statistics Authority (PSA) has recorded in the country, 99.53% were registered as micro-, small,
Read more »
GCash growth to prompt cybersecurity focusGLOBE Telecom Inc. (Globe) is expected to spend more for cybersecurity as its financial service app, GCash, continues growing along with the company, Fitch Group unit BMI said in a report.
Read more »
AllBank joins forces with InnovateHub.Inc to roll out QR Payment SolutionsALLBank (A Thrift Bank) Inc., has officially teamed up with InnovateHub.Inc an online payment gateway, to introduce QR payment services to the public. This feature provides merchants with faster transaction processing and reduces the complexities associated with cash handling.
Read more »
LT Group Inc. Net Income Surges 13.2% in 2024 Driven by Tobacco and BankingLT Group Inc., the diversified holding company led by Lucio Tan, reported a strong 13.2% increase in consolidated net income for 2024, primarily attributed to the robust performance of its tobacco and banking businesses.
Read more »
Europe Inc. takes evasive action as Trump tariffs hit, braces for second waveLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »