MANILA - Globe Telecom is taking a 67 percent stake in IT consultancy firm Third Pillar Business Applications Inc (TPBAI) to expand its footprint in cloud computing, the telco said on Monday.
The company said its wholly-owned subsidiary, GTI Business Holdings Inc will invest P173 million into TPBAI, subject to closing and post-closing conditions.
Third Pillar is a business application consulting and systems integration company that provides consultancy and solutions from leading providers such as Salesforce, Syniti, and Consus Global Consulting.
“The acquisition of Third Pillar expands our suite of cloud business offerings and this includes Software-as-a-Service applications, which is now the platform of choice of businesses who prefer faster service capabilities in a cost-effective manner,” said Globe president and CEO Ernest Cu.
The Ayala-owned telco said the acquisition is part of its strategy to move into ICT consulting for enterprise customers.