Globe pays PHP173m for 67% stake in Third Pillar to boost enterprise business

19 Aug 2020

Globe Telecom, through its wholly owned subsidiary GTI Business Holdings, has announced it is investing PHP173 million (USD3.6 million) to acquire a 67% stake in application consulting and systems integration company Third Pillar Business Applications Inc (TPBAI), to allow it to expand its cloud business product portfolio. Local press note that Third Pillar is the Philippines’ largest ‘gold partner’ of Salesforce, the world leader in Customer Relationship Management (CRM) solutions. The deal will likewise see Globe purchase shares of Third Pillar Global Delivery Center (TPGDC), its outsourcing arm, which will reportedly result in TPBAI’s full ownership of TPGDC.

‘This acquisition expands our suite of cloud business offerings, including Software-as-a-Service applications,’ said Globe president and CEO Ernest Cu. The purchase forms part of the telco’s drive to become a trusted player in the enterprise business space.

Philippines, Globe Telecom (incl. Innove)