NCSI Holdings will pay a net consideration of 134 million Philippine pesos ($3 million) for the 51% stake in Yondu, net of the 818 million pesos used by Yondu to acquire the existing NCS’ existing subsidiary, NCSI Philippines. The transaction will be funded using cash and internal resources.
NCS, a technology services firm and a subsidiary of Singtel Group, is ramping up its presence in Asia Pacific through a joint venture with Globe Telecom.
Its wholly owned subsidiary, NCSI Holdings, will acquire a majority stake in Globe’s IT unit, Yondu, to provide clients with greater access to digital, cloud, data and AI services.
