PLDT Capital expanding digital base

PLDT Capital is looking to undertake acquisitions next year to grow its digital portfolio.

In an interview with reporters, PLDT Inc. chairman and chief executive officer Manuel Pangilinan said they would revisit the portfolio of PLDT Capital, which serves as the holding firm for the telco giant’s investments in over-the-top companies.

“Most likely there’ll be some [acquisitions]...There are some interesting opportunities,” Pangilinan said.

PLDT Capital was formed in 2015 to enable the PLDT Group to grow its digital services.

It was also intended to link the PLDT group to leading companies in Silicon Valley and around the world.

The last investment made by PLDT Capital was in March last year when it invested $5 million in US-based MATRIXX Software.

MATRIXX Software provides a realtime digital commerce platform to create

and monetize content and services.

Through the investment, PLDT’s wireless arm Smart Communications Inc. was able to use MATRIXX Software’s real-time digital commerce platform to deliver an array of lifestyle services and content that can be individually purchased and customized.

Given the subscribers’ changing lifestyle, PLDT is putting greater focus on digital services over legacy services such as voice and text messaging.

PLDT has set a recurring core income target of P21.5 billion this year to serve as the new base to raise profitability in the coming years.

Its recurring core income reached P5.3 billion in the first quarter, down 26 percent from the same period last year, but still on track with the core income guidance for the year.