IPVG Corp inks investment deal with E-Store Exchange

Multi-media and technology firm IPVG Corp. has entered into an investment agreement with E-Store Exchange, a holding and management company engaged in the business of investing in e-commerce and other Internet-related ventures.

E-Store owns an online virtual mall and pioneered in electronic format prepaid reloads for mobile phones and Internet. It owns television advertising assets including P25-million worth of advertising spots in broadcast firm GMA-7.

Under the proposed agreement, E-Store will make the ad spots available to IPVG and/or its subsidiary, IP E Games Ventures subject to the right of E-Store to convert the ad spots value to shares in either IPVG or IP E Game Ventures or treat said value as a loan.

IPVG plans on utilizing the television advertising assets to promote its online gaming business.

The agreement is to be effective upon the date of signing and subject to the compliance by both parties with their respective conditions.

IPVG earlier teamed up with Next Media and Sequel Solutions to set up NSI, a company that will launch nationwide gaming services through Free Television (FTV) and premium phone line services (PPS).

Next Media is a media company engaged in the production of print and television content. It was formerly publisher of Teen Philippines, Golf Asia and Volume.

Sequel Solutions, on the other hand, is an IT consulting and applications development services firm focused on helping its customers design and build enterprise solutions that leverage technology to enhance value-creation capabilities of their business.

According to IPVG managing director Enrique Gonzalez, NSI will utilize the combined marketing, technical and operational expertise of the three joint venture companies to launch a national game show in partnership with the Philippine Charity Sweepstakes Office and PLDT.

Last July, IPVG entered into an online gaming distribution agreement with Terra ICT, a company engaged in the business as online games operator and game publisher based in Malaysia.

Under the deal, IPVG Corp. has the right to publish, use, market, distribute and sell in the Philippines Terra online game titles.

IPVG was the result of the merger between MBf Inc. and Adobo Interactive. It was organized to provide Internet, extranet and other value-added services to any and all types of information technology users, with the objective of developing the IT sector in the country through the adoption and localizing of global Internet models.