MANILA - Xurpas Inc. has acquired a stake in Micro Benefits Financial Consulting, a Hong Kong-based company providing innovative mobile HR solutions to Fortune 500 companies in China.

In a disclosure to the stock exchange on Wednesday, Xurpas said it acquired a 23.53 percent stake in Micro Benefits for $10 million.

Micro Benefits, which began its operations in 2013, focuses on using mobile technology to address the growing problem of worker turnover at large manufacturing facilities in China.

Last year, Xurpas acquired Storm Flex Systems Inc., a company engaged in providing a platform that allows employees to exchange standard employee benefits into a wide range of products and services.

Xurpas' investment into Micro Benefits now allows Storm Flex Systems to broaden its market scope to China and potentially expand its product reach.

“Combining the platforms of Micro Benefits and Storm Flex Systems Inc. creates a more compelling business solution fully intended to optimize their HR technology platforms which they could both offer to their clients,” said Xurpas chief executive Nix Nolledo.

“Expansion is one of our continuing priorities, and this is a strategic move that establishes China as a new and hugely lucrative frontier for our growing enterprise business, while simultaneously allowing us to offer new solutions to companies here in Asia,” he added.