ePLDT acquires SPi Technologies

11 Jul 2006

Philippine Long Distance Telephone (PLDT) says its information and communication technology unit ePLDT has acquired business process outsourcing (BPO) company SPi Technologies for USD135.34 million in cash. The deal also includes the assumption of USD7 million of debt SPi Technologies owes to former shareholder SPI Tech, and the advance of USD16.43 million to pay off another creditor, DBS Bank Singapore. PLDT says the purchase ramps up its position as a leading player in the BPO market. SPi Technologies is the ninth largest independent BPO service provider in the world, with operations in 19 locations in North America, Europe and Asia.