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WEEKS
after failing to get major BPO player PeopleSupport,
Inc., listed IPVG Corp. said Tuesday it has acquired a
controlling stake in MEGAMobile, Inc., a local
mobile-technology provider and content developer.
In a
statement, it said it has entered into a stock-purchase
agreement with the shareholders of MEGAMobile for the
purchase of 70 percent of the outstanding capital stock
the company for P6.4 million.
IPVG
plans to augment this investment further by infusing
additional capital to strengthen MEGAMobile’s content
pipeline, marketing programs and infrastructure.
“IPVG’s
investment into MEGAMobile marks our entry into the
mobile content and value-added services (VAS) sector.
This is an extremely exciting space given the
Philippines’ 55 million subscribers base and high demand
for mobile content,” IPVG chief executive Enrique Y.
Gonzalez.
The
acquisition, however, is still subject to legal and
financial due diligence on MEGAMobile and for approval
by IPVG’s board of directors.
“The
MEGAMobile transaction signifies another milestone for
IPVG, as it enters the dynamic and highly competitive
mobile services arena. The newly acquired company is
known for creating new and compelling wireless platforms
and technologies,” said Gonzalez.
“Its
addition to the conglomerate’s current lines of business
creates a new product that will form a synergy among its
communications, outsourcing and online gaming
operations, thus enabling the subsidiaries to reach out
to its huge customer base and strategic distribution
network.”
MEGAMobile is IPVG’s fifth investment (through
acquisition and signed binding agreement) in a span of
only one year following Globalstride Holdings, Inc.
(call-center facilities in the Philippines); IP-Converge
Pte Ltd. (Singapore based IDC); Prolexic Technologies,
Inc. (Internet security provider with operations in the
US, EMEA and Asia) and Interactive Teleservices
Corporation (a US-based contact center with facilities
in the US, Panama and the Philippines). |
