IPVG in Talks to Buy Call Centers, Expand Existing BPO BusinessPosted March 19, 2008
IPVG Corp. is acquiring two companies engaged in the call-center business to expand its niche in the business process outsourcing (BPO) industry.
The companies are described as "medium sized" and that deals will likely be consummated within the first half of the year.
In an interview late Tuesday, chief executive and managing director Enrique Y. Gonzalez said they are now in talks for the acquisition of a Philippine-based call center with 1,000 seats; and similar talks are ongoing with an Asian firm also in the call- center business.
"We can't divulge details because of the ongoing negotiations. But we expect to close a deal within the first half," he said, adding that IPVG has got the money for the acquisition covered.
IPVG, whose shares are traded on the Philippine Stock Exchange, operates 2,000 seats via Globalstride Holdings Inc., and Interactive Teleservices Corp. The forthcoming acquisitions are expected to boost its contact center seats to 4,000.
Last week, it bought the controlling equity in MEGAMobile Inc., a local mobile-technology provider and content developer.
IPVG entered into a stock purchase deal with shareholders of MEGAMobile and bought of 70 percent of its outstanding capital stock for P6.4 million.
IPVG plans to top this investment by infusing more money that will make MEGAMobile's content pipeline stronger, as well as its marketing programs and infrastructure.
"The MEGAMobile transaction signifies another milestone for IPVG, as it enters the dynamic and highly competitive mobile-services arena. The newly acquired company is known for creating new and compelling wireless platforms and technologies," Gonzalez said.
"Its addition to the conglomerate's current lines of business creates a new product that will form a synergy among its communications, outsourcing and online gaming operations, thus enabling the subsidiaries to reach out to its huge customer base and strategic distribution network," he added.
MEGAMobile is IPVG's fifth investment?through acquisition and signed binding agreement?in 12 months. Before that, IPVG bought Globalstride Holdings, Singapore's IP-Converge Pte Ltd., Prolexic Technologies Inc.?an Internet security provider with operations in the US, EMEA and Asia?and US-based Interactive Teleservices together with its facilities in the US, Panama and the Philippines.
Gonzalez said IPVG's net profit for 2007 reached P200 million.
Source: businessmirror.com, Feb 28, 2008
by By Honey Madrilejos-Reyes