PLDT unit acquires ex-B2B company

MANILA, Philippines - A unit of the Philippine Long Distance Telephone Co. (PLDT) has acquired Bayantrade, a company previously owned by the country’s largest companies, including PLDT. ePLDT, which hosts internet data centers, among others, has bought Bayantrade at an undisclosed price in April, two months ahead of its ninth anniversary on June 19. Bayantrade’s expertise in supply chain management and technology-enabled business solutions will fit in the overall strategy of ePLDT, ePLDT chief executive and president Ray Espinosa said. The acquisition “will enable us to offer end-to-end ICT solutions to enterprise clients in the Philippine, regional, and world markets," said Espinosa. In February last year, Bayantrade expanded its operations by opening offices in Singapore, Indonesia, and Malaysia after acquiring companies in those nations. It currently has offices in Taguig, Makati, Cebu, and Davao. For his part, Bayantrade president and chief executive Dante Briones said that the company is “more confident in taking on greater opportunities to become an international organization known for delivering only the best-in-class services to the world." Shortly after its launch in 1998, Bayantrade allowed bulk buyers procure their suppliers from bulk sellers since it was an online business to business (B2B) venture However, as the dotcom boom went bust, the company – co-owned by Aboitiz & Co., Ayala Corp., Benpres Holdings, JG Summit Holdings, United Laboratories, and PLDT – reinvented itself as a technology provider for sourcing and supply management, technology-enabled business solutions, outsourced operational and business applications support, and education. - GMANews.TV