NCS, a technology services firm and a subsidiary of Singtel Group, is ramping up its presence in Asia Pacific through a joint venture with Globe Telecom.
Its wholly owned subsidiary, NCSI Holdings, will acquire a majority stake in Globe’s IT unit, Yondu, to provide clients with greater access to digital, cloud, data and AI services.
NCSI Holdings will pay a net consideration of 134 million Philippine pesos ($3 million) for the 51% stake in Yondu, net of the 818 million pesos used by Yondu to acquire the existing NCS’ existing subsidiary, NCSI Philippines. The transaction will be funded using cash and internal resources.
Set to be rebranded as NCS Philippines upon the closing of the transaction, the new joint venture will position the company as a major technology services player in the country.
The move will scale NCS’ Philippines workforce from 150 to more than 1,200 professionals and accelerate the expansion of NCS’ Global Delivery Network, combining NCS’ delivery capability and capacity with Yondu’s resources and skills.
Moreover, NCS will bring in its global resources in digital, cloud, data and AI services to augment Yondu’s service offerings, which currently include custom software development, eCommerce solutions and cloud platforms.
“Globe and Yondu’s deep country expertise, coupled with NCS’ technology capabilities, will increase our capacity to further drive business transformation and innovation, especially in the telecommunications sector. It will offer greater value to our global clients, who will benefit from our expanded Global Delivery Network as well as greater access to our digital, cloud, data and AI services,” says NCS’ CEO Ng Kuo Pin.
Ernest L. Cu, Globe’s president and chief executive officer, adds: “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.”
