Daily TribuneGlobe has agreed to sell a 51 percent stake of its IT solution provider Yondu to Singapore-based NCS’ parent firm, NCSI Holdings Pte. Ltd., while Yondu fully acquires NCSI Philippines. The Yondu-NCSI PH partnership expands Yondu’s market reach beyond the Philippines by leveraging NCS’s expertise in digital, cloud, data and AI services.
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Globe Telecom Inc. is set to raise P1.87 billion through a joint venture with Singapore-based NCS Pte. Ltd. as it seeks to strengthen its IT services subsidiary, Yondu Inc.
In a stock exchange report on Thursday, Globe said it has agreed to sell a 51 percent stake of Yondu to NCS’ parent firm, NCSI Holdings Pte. Ltd. even as Yondu fully acquires NCSI Philippines.
Upon closing, Globe will retain a 49 percent stake in both Yondu and NCSI PH. The transaction, however, is still subject to regulatory approvals and other closing conditions.
The partnership aims to expand Yondu’s market reach beyond the Philippines by leveraging NCS’ expertise in digital, cloud, data and AI services.
“Our vision for Yondu is to be a force for good through effective IT products and services. Partnering with NCS will unlock new global opportunities, enabling Yondu to expand its reach and deliver more impactful IT solutions worldwide,” Globe president and CEO Ernest L. Cu said.
For Ng Kuo Pin, CEO of NCS Pte. Ltd., the joint venture will help boost the company’s presence in the Asia-Pacific region.
“This joint venture marks a significant milestone in our APAC growth journey as we continue to invest in meeting the region’s demand for technology services, particularly AI-led solutions,” Ng said.
“Our global clients will benefit from our expanded Global Delivery Network and greater access to digital, cloud, data, and AI services.”
