PLDT invests P2.15 B in local software developer

Telco giant PLDT Inc. is investing P2.15 billion to acquire nearly half of a local software development and IT solutions provider.

PLDT said its board approved the investment in Multisys Technologies Corp. for a 45.73 percent stake in the company.

The investment will be done through PLDT’s wholly owned subsidiary, PLDT Global Investments Holdings Inc. and the transaction is expected to be completed by next month.

“This investment positions PLDT as a telecoms and digital services provider with core software development capabilities,” PLDT chairman and CEO Manuel V. Pangilinan said.

“With the software savvy of Multisys, PLDT will be able to offer more custommade solutions to its customers and thus deepen its relationships with them,” Pangilinan said.

Multisys, founded by software programmer-entrepreneur David Almirol Jr., has developed over the past eight years a number of software platforms that can be used by its pool of programmers to create highly scalable, flexible, and customizable software solutions as required by its clients.

The software platforms include those for payment gateways such as Bayad Center, for utilities like power and water, for data center setup and connectivity, for big data handling and analytics, and cyber security.

PLDT said the specialized industry solutions of Multisys complement the suite of solutions of units PLDT Enterprise and ePLDT.

It said that Multisys would also strengthen the ongoing digital initiatives of ePLDT and Voyager Innovations, par- ticularly in the fields of electronic payments and digital financial services.

“Working with Multisys will enable us to step up our efforts to provide compelling digital solutions to address the specific requirements of our Enterprise customers. This will sharpen our competitive advantage and at the same time accelerate our digital transformation,” PLDT chief revenue officer Ernesto Alberto said.

PLDT announced last month the signing of agreements between the company and investors led by KKR and China’s Tencent to separately subscribe to a total of up to $175 million worth of newlyissued shares in Voyager, giving them a substantial minority stake in the Philippines’ leading digital technology company.

The KRR and Tencent investment in Voyager is slated to be closed within the fourth quarter, the company said.