Xurpas to invest P900M in Globe unit Yondu

Listed technology firm Xurpas Inc. is investing P900 million for a 51-percent equity stake in Yondu Inc., a subsidiary of Globe Telecom Inc.

 

Yondu is a content developer and provider of mobile applications and information technology services.

 

“The investment solidifies the Globe Telecom and Xurpas partnership in the internet and digital space and will transform Yondu into a regional arm for digital content distribution and other technology-driven services,” Globe and Xurpas noted in a joint statement.

 

Globe CEO and President Ernest Cu said the strong track record of Xurpas in the business of consumer content will “round out the technical and innovative capabilities of Yondu.”

 

“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,” Xurpas CEO Nix Nolledo. – Jon Viktor Cabuenas/VS, GMA News