Xurpas takes majority control of mobile developer for P900 M

MANILA, Philippines - Listed technology firm Xurpas Inc. completed yesterday its acquisition of a controlling interest in Globe Telecom unit Yondu for P900 million.

Xurpas said the purchase of a 51-percent stake in mobile content developer Yondu would boost its revenues and profits.

Last year, Yondu posted a net income of P251 million on revenues of P854 million.

The acquisition seeks to solidify Xurpas’ partnership with Globe in the mobile Internet and digital space. It aims to transform Yondu into a regional arm for digital content distribution and other technology-driven services.

The strategic alliance of Globe and Xurpas bolsters the Ayala-led firm’s track record of partnering with leading digital players to strengthen its position as the purveyor of the Filipino digital lifestyle.

 Yondu has various software solutions in its portfolio including Mobile360, an SMS and app builder platform where the SMS platform enables companies to acquire, engage and manage customers via SMS and other mobile-driven channels.

It also created PeopleCentral, a cloud-based integrated HR and Payroll system, and Ask Tracey, a locator app with specific features for consumers and enterprises.

 Other ready-made software includes KMS Lighthouse, a knowledge management platform for service agents and Sapience, a business solution that monitors employees’ time spent on projects and improves efficiency.

 Xurpas, meanwhile, has a history of deploying successful consumer technology businesses.

 Following the company’s initial public offering in 2014, Xurpas has expanded regionally, acquiring and investing in various content and distribution companies to expand its digital footprint across Southeast Asia.

Globe Telecom, on the other hand, is a leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services.