Globe to acquire 67% of Third Pillar

MANILA, Philippines — Globe Telecom Inc. is investing P173 million to acquire a majority stake in an application consulting and systems integration company which will enable the telco to expand its suite of cloud business offerings.

Globe, through its wholly owned subsidiary GTI Business Holdings, will acquire 67 percent stake in Third Pillar Business Applications Inc. (TPBAI).

The transaction requires TPBAI to acquire shares of Third Pillar Global Delivery Center Inc. (TPGDC), its implementing arm, which will result in TPBAI’s full ownership of TPGDC.

TPBAI focuses on delivering innovative enterprise solutions that help organizations boost sales, improve customer intimacy, ensure data integrity, and reduce annual spending.

Globe said the acquisition forms part of the company’s strategy to be the trusted advisor of enterprise customers in the information and communications technology space through introduction and implementation of efficient, reliable and leading-edge technologies.

“The importance of digital solutions today is more pronounced than ever and we continue to enable our clients, be it top companies or small and medium businesses, to achieve the most from their digital transformation journey,” Globe president and CEO Ernest Cu said.

“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,” Cu said.