A UNIT of Concepcion Industrial Corp. (CIC) focused on technology research and development, acquired start-up Teko Solutions Asia Inc., a company that mainly placed appliance service and repair business in the Philippines on the Web.
“This acquisition reinforces Cortex’s commitment to explore emerging technology and find ways to leverage it across Concepcion Industrial Group of companies, as well as CIC’s focus on building better lives and business,” Cortex President and CEO Sean Byrne said.
“There’s an obvious synergy between Teko and the aftersales services offered by many of Concepcion Industrial’s consumer brands, such as Carrier, Condura, Midea and Toshiba as our consumers demand convenient aftersales service using mobile and Web technology,” he said.
The company did not disclose the amount of acquisition.
Teko utilizes a proprietary platform for real-time access to service and repairs for home appliances, such as air-conditioners, refrigerators, washing machines and water heaters, using self-employed, qualified and screened entrepreneur technicians, a first in the Philippines.
The Teko platform handles all interaction between the consumer and technician, giving the consumer a seamless and hassle-free way of maintaining their appliances.
Teko.ph also gives Concepcion Industrial an opportunity to build a nationwide aftersales network. “This will create an appealing employment opportunity for individuals with the right skills, motivation and entrepreneurial spirit,” it said.
In a short time, Teko has built up a supply of over 850 certified technicians and covered over 4,000 jobs in the Metro Manila area.