PLDT Completes P2.15bn Investment in IT Firm Multisys Technologies

Multisys Technologies
Multisys Technologies Corporation

PLDT announced today that it has completed its P2.15-billion investment in Philippine software development and IT solutions provider Multisys Technologies Corporation (Multisys).

Upon the approval by the Philippine SEC of the capital increase of Multisys, PLDT will own a total equity stake of 45.73 percent in Multisys through a combination of new and existing shares of Multisys.

The investment was done through PLDT’s wholly owned subsidiary, PLDT Global Investments Holdings, Inc. (PGIH).

Founded by software programmer-entrepreneur David L. Almirol, Jr., Multisys has developed over the past eight years a number of software platforms that can be used by its pool of programmers to create highly scalable, flexible and customizable software solutions as required by its clients.

These software platforms include those for payment gateways such as Bayad Center, for utilities like power and water, for data center setup and connectivity, for big data handling and analytics, and cybersecurity.

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

The specialized industry solutions of Multisys complement the suite of solutions of PLDT Enterprise and ePLDT and can be further fortified by ePLDT’s managed infrastructure and cybersecurity solutions.

Multisys can also strengthen the ongoing digital initiatives of ePLDT and Voyager Innovations, particularly in the fields of electronic payments and digital financial services.

“Working with Multisys will enable us to step up our efforts to provide compelling digital solutions to address the specific requirements of our Enterprise customers. This will sharpen our competitive advantage and at the same time accelerate our digital transformation,” said Ernesto R. Alberto, Chief Revenue Officer for the PLDT Group.

PLDT recently announced the closing of the US$175-million investment in Voyager Innovations by global private equity firm KKR and Chinese Internet giant Tencent Holdings.

“Voyager can now step up its efforts to make its innovative financial and internet platforms more accessible to more Filipinos in more parts of the country,” said Pangilinan.

As previously announced on 4th October 2018, KKR and Tencent subscribed to newly- issued shares in Voyager Innovations, the Philippines’ leading digital technology company. KKR and Tencent’s investment gives them a substantial minority stake in the Company.

Also Read:
PLDT Closes US$175m Investment In Voyager From KKR, Tencent
PLDT’s Voyager Innovations Secures P2.1bn Investments from IFC