Manila, Philippines – September 1, 2015
Globe Telecom, Inc. (PSE: GLO) and Xurpas Inc. (PSE: X) signed an agreement today with Xurpas investing Php900 Million for a 51% equity stake in Yondu Inc., subject to certain closing conditions. Yondu, a wholly owned subsidiary of Globe, is a leading content developer and provider of mobile value-added services and information technology services.
The investment solidifies Globe Telecom and Xurpas partnership in the internet and digital space and will transformYondu into a regional arm for digital content distribution and other technology-driven services. The strategic alliance of Globe and Xurpas in Yondu bolsters Globe’s track record of partnering with leading digital players to strengthen its position as the purveyor of the Filipino digital lifestyle.
“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. 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” Globe President and CEO Ernest Cu said.
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’ continued expansion beyond the Philippines.
“Globe Telecom has been our strongest partner in the Philippines and the investment into Yondu strengthens our joint capabilities to bring world class digital products to the global audience” said Nix Nolledo, Xurpas CEO.
Globe Telecom is a leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services. Its principals are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region. For more information, visit www.globe.com.ph. Follow Globe Telecom on Facebook at www.facebook.com/GlobePH and Tattoo at www.facebook.com/GlobeTattoo as well as on Twitter @enjoyglobe and @choosetattoo and Instagram at @enjoyglobe and @choosetattoo.
Xurpas is a technology company specializing in the creation and development of digital products and services for mobile end-users, as well as the creation, development and management of proprietary platforms for mobile operators. The Company offers a complete portfolio of products, including online casual games, messaging and other social discovery applications, as well as mission-critical applications such as customized call/SMS/data bundles, pee-to-peer mobile airtime credit transfers and various forms of mobile commerce. For more information, visit www.xurpas.com.
For more information, please contact:
Yoly C. Crisanto
Head, Corporate Communications
Globe Telecom, Inc.
Email Address: [email protected]
Globe Press Room: www.globe.com.ph/press-room
Twitter: @talk2GLOBE Facebook: www.facebook.com/globeph