^

Business

SingTel hikes stake in Ayala unit to 51%

-

MANILA, Philippines - A unit of Singapore Telecommunications Ltd. (SingTel) has increased its stake in Ayala Systems Technology Inc. from 30 percent to a majority 51 percent.

SCS Computer Systems Pte Ltd (SCS), a wholly-owned subsidiary of NCS Pte. Ltd (NCS), owned by SingTel, has purchased 21 percent or 8.47 million of the outstanding common shares of Ayala Systems from Azalea Technology Investments Inc., BPI Computer Systems Corp. and Mitsubishi Corp. for a total price of P7.2 million or 85 centavos per share.

Azalea is the wholly-owned subsidiary of Ayala Corp. focused on investments in information technology.

The acquisition increases SCS’s shareholding in Ayala Systems from 30 percent to 51 percent, making Ayala Systems a subsidiary of NCS and SingTel. Azalea’s ownership of Ayala Systems is reduced from 59 percent to 49 percent.

Ayala Systems is one of the fastest growing information technolocy services companies in the Philippines. Established in 1988, it specializes in offshore software development for companies in Japan, Europe, America and Australia.

Meanwhile, NCS is one of Asia Pacific’s top information and communications technology (ICT) services providers. In its 2008 report on IT Professional Services, Gartner ranked NCS number eight in terms of market share in Asia Pacific (excluding Japan).

NCS has a presence in more than 10 countries across the Asia Pacific and Middle East regions, employing over 7,000 staff. Its customers include international blue chip market leaders and governments.

SingTel, which is Globe Telecom’s biggest foreign investor, is Asia’s leading communications group with operations and investments in more than 20 countries and territories around the world.

Ayala officials said the acquisition will provide NCS and SingTel access to a large labor pool that is highly competitive in pricing but gives back excellent value in terms of the employee’s dedication to work, technical competence, learning and growth potential.

They added that Ayala Systems’ experience in the outsourcing and offshoring industry will be the platform for NCS and SingTel to penetrate overseas markets.

AMERICA AND AUSTRALIA

ASIA PACIFIC

ASIA PACIFIC AND MIDDLE EAST

AYALA

AYALA CORP

AYALA SYSTEMS

AYALA SYSTEMS TECHNOLOGY INC

AZALEA TECHNOLOGY INVESTMENTS INC

COMPUTER SYSTEMS CORP

NCS

SYSTEMS

  • Latest
  • Trending
Latest
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with