28 Nov 2018
The board of Filipino telecoms giant PLDT Inc. has approved the acquisition of a 45.73% stake in software development company Multisys Technologies for PHP2.15 billion (USD40.9 million), with the transaction to be completed via wholly-owned subsidiary PLDT Global Investments Holdings. PLDT expects to complete the deal before the end of December 2018. Commenting on the investment, PLDT chairman and chief executive Manuel Pangilinan said: ‘This investment positions PLDT as a telecoms and digital services provider with core software development capabilities … With the software savvy of Multisys, PLDT will be able to offer more custom-made solutions to its customers and thus deepen its relationships with them.’
Multisys Technologies was founded by software programmer and entrepreneur David Almirol Jr., and over the past eight years or so has brought to market a number of software platforms that can be used ‘to create highly scalable, flexible and customisable software solutions as required by its clients’. These applications include payment gateways such as ‘Bayad Center’, utilities like power and water, data centre setup and connectivity, big data handling and analytics and cybersecurity. As such, PLDT hopes the investment will complement the suite of solutions provided by subsidiaries PLDT Enterprise and ePLDT.