PLDT, Meralco, MPIC acquire shares in Digico

The ownership structure of DigiCo, a shared digital services company under the Pangilinan Group, will see slight changes following recent subscription agreements.

PLDT Inc., Manila Electric Company (Meralco), and Metro Pacific Investments Corp. (MPIC) said on Tuesday that they have entered into separate subscription agreements with DigiCo, formerly Kayana Solutions Inc., for a total of 570 million additional common shares.

As a result, DigiCo is now 45 percent owned by PLDT, with Meralco and MPIC each holding a 27.5 percent stake.

The company declined to provide further details on the transaction.

In July, DigiCo acquired full ownership of Multiply Corp. and a 10 percent stake in Bayad Center for an undisclosed amount.

Complementary

DigiCo chairman Manuel V. Pangilinan described the acquisitions as complementary to the group’s data assets, enabling them to deliver a “superior, intuitive and personalized customer experience, backed by insights.”

“Having both online and offline solutions, Bayad and Multipay are uniquely positioned to accelerate the country’s shift to digital payments. These companies will improve the payment experience for the Filipino consumer and provide partners with integrated solutions,” Pangilinan added.

The acquisition of Multipay will be finalized upon fulfillment of all closing conditions.

Having both online and offline solutions, Bayad and Multipay are uniquely positioned to accelerate the country’s shift to digital payments. These companies will improve the payment experience for the Filipino consumer and provide partners with integrated solutions.

Bayad, meanwhile, serves as a bill payment provider, catering to over 800 utility, financial and various billers through more than 104,000 touchpoints nationwide.