PLDT invests in Multisys to boost digital initiatives

ABS-CBN News

Posted at Nov 08 2018 02:51 PM

MANILA - PLDT Inc on Thursday said it was investing P2.15 billion in software solutions provider Multisys Technologies Corp to complement its digital initiatives. 

Its subsidiary PLDT Global Investment Holdings Inc will acquire 45.73 percent interest in Multisys in a deal expected to be completed by December, PLDT told the stock exchange. 

PLDT said the firm "complements" the suit of solutions of its subsidiaries PLDT Enterprise and ePLDT. Multisys can also strengthen the digital initiatives of ePLDT and Voyager in the fields of electronic payments and digital financial services, it said. 

“This investment positions PLDT as a telecoms and digital services provider with core software development capabilities,” PLDT chairman and CEO Manuel Pangilinan said. 

“With the software savvy of Multisys, PLDT will be able to offer more custom made solutions to its customers and thus deepen its relationships with them," he said. 

Multisys has developed a number of software platforms such as payment gateway Bayad Center, PLDT said. 

Last October, Voyager Innovations announced that it would be getting $175 million from global investment firm KKR and China's Tencent Holdings.

PLDT also said its P58 billion capital expenditure plan for 2018 was on track.