Manila, Philippines – Globe Telecom Inc., a provider of telecommunications services in the Philippines, has recently entered into a joint venture with Singtel Group’s subsidiary, with the goal of enhancing cloud, data, and AI capabilities in the Asia-Pacific region.
Under this venture, the Ayala-led firm indicated that NCSI Holdings Pte. Ltd., based in Singapore, will hold 51% ownership of Globe’s IT subsidiary Yondu. In this case, Globe will still retain a 49% stake.
The parties have also revealed that Yondu will gain full control of NCSI Philippines, a local firm focused on digital applications, infrastructure, engineering, and cybersecurity. Yondu is an IT solutions provider offering custom software development, managed security, e-commerce, and cloud services.
This strategic move enables Globe to benefit from the enhanced services of the joint venture with the integrated technical capabilities and product offerings they bring. The company is a collaboration between Ayala Corp. and SingTel, with Asiacom Philippines Inc. holding a 52.3% stake.
Meanwhile, Ernest Cu, president and CEO of Globe, said, “Our vision for Yondu is to be a force for good through effective IT products and services.” He further shared that its collaboration with NCSI will create global growth opportunities, enabling Yondu to expand its presence and enhance the impact of its IT solutions worldwide.
Kuo Pin, CEO at NCSI, also commented, “This joint venture marks a significant milestone in our APAC (Asia-Pacific) growth journey as we continue to invest to meet the region’s growing demand for technology services, in particular, AI-led solutions.”
As per the latest update, the agreement is still pending for review and approval by regulators.
