MANILA – PLDT technology subsidiary Voyager Innovations announced on Thursday that it is getting $175 million in investments from global investment firm KKR and China's Tencent Holdings.
Voyager said KKR and Tencent have signed agreements to separately subscribe to its newly-issued shares, which will give them a substantial minority stake in Voyager.
The transaction is expected to be closed in the fourth quarter of the year, with PLDT remaining as the majority shareholder of Voyager.
Voyager powers PLDT's mobile and internet financial services like PayMaya, Smart Padala, Lendr and freenet.
“Having global powerhouses such as KKR and Tencent as investors in Voyager Innovations demonstrates not only their confidence in the company’s ability to execute its vision, but also their confidence in the Philippine technology industry as a whole,” said PLDT chairman, president and CEO Manuel Pangilinan