Xurpas takes over 51% Globe stake in Yondu

MANILA, Philippines - Listed technology firm Xurpas Inc. is acquiring Globe Telecom’s 51 percent stake in mobile content developer Yondu Inc. for P900 million.

Xurpas plans to “transform Yondu into a regional arm for digital content distribution and other technology-driven services.”

According to Xurpas and Globe, the investment solidifies their partnership in the Internet and digital space.

The strategic alliance of Globe and Xurpas in Yondu strengthens Globe’s track record of partnering with leading digital players to strengthen its position as the purveyor of the Filipino digital lifestyle, Xurpas also said.

Globe president and CEO Ernest Cu said the partnership with Xurpas would take Yondu to the next level.

“Over the past few years, we have built the company into a great platform for media and content innovation and it is time to bring our aspirations regional. In keeping with our partnership model, we have chosen to work with Xurpas to make this happen. Their track record in building businesses centered on consumer content will round out the technical and innovative capabilities of Yondu,” Cu said in a separate disclosure to the Philippine Stock Exchange.

Xurpas has a strong history of deploying successful consumer technology businesses.