TECHNOLOGY company Xurpas Inc. has invested P900 million to acquire a 51-percent equity in content developer and provider Yondu Inc., a subsidiary of Globe Telecom Inc.
Executives of both Globe and Xurpas said the investment solidifies the two listed company’s partnership in the Internet and digital space. The partnership is expected to transform Yondu into a regional arm for digital content distribution and other technology-driven services.
“Globe is very excited to be partnering with Xurpas in taking Yondu to the next level. Over the past few years, we have built the company into a great platform for media and content innovation, and it is time to bring our aspirations regional,” Globe President and CEO Ernest L. Cu said late Wednesday
In keeping with our partnership model, we have chosen to work with Xurpas to make this happen. Their track record in building businesses centered on consumer content will round out the technical and innovative capabilities of Yondu,” Cu added.
Xurpas has a strong history of deploying successful consumer technology businesses.
Following the company’s highly successful initial public offering in 2014, Xurpas has expanded regionally, acquiring and investing in various content and distribution companies to expand its digital footprint across Southeast Asia.
The acquisition of Yondu spurs Xurpas’s continued expansion beyond the Philippines.
“Globe Telecom has been our strongest partner in the Philippines and the investment into Yondu stengthens our joint capabilities to bring world-class digital products to the global audience,” Xurpas CEO Nico Jose S. Nolledo said.