PLDT unit acquires IP Converge Data Services


Posted at Oct 12 2012 03:41 PM | Updated as of Oct 13 2012 03:38 AM

MANILA, Philippines - Philippine Long Distance Telephone Company's unit ePLDT Inc. on Friday signed a deal with IP Ventures Inc. to acquire IP Converge Data Services Inc. (IPCDSI). 

"Our investment in IPCDSI allows us to complete our multi-tiered data center product suite and expand our cloud solutions business," PLDT president Napoleon L. Nazareno said, in a statement. 

IPCDSI owns and operates 2 internet data centers in the country. It provides enterprises with managed data services and cloud-based business solutions. 

"We see this agreement with PLDT as a major milestone for the company. PLDT brings tremendous strategic value to the table. With the extensive synergies between PLDT and IPDCSI, IPDSCI will have greater business scalability which will drive growth across all of its business segments," Enrique Gonzalez, IPVI CEO, said.