03 April 2025
In a strategic move to broaden its presence in the Asia-Pacific region, NCS, a subsidiary of Singtel, has secured a 51% majority stake in Yondu, the IT unit of Globe Telecom.
This acquisition, valued at a post-transaction enterprise figure of PHP1.86 billion, will see NCS Holdings purchasing the stake for a total net consideration of PHP134 million, subject to adjustments regarding net cash and debt as specified in the joint venture agreement.
The partnership aims to bolster access to a suite of digital, cloud, data, and artificial intelligence services on a global scale. NCS has announced that the entity resulting from this collaboration will be named NCS Philippines. With this acquisition, Yondu's workforce, currently at around 150, is set to expand to more than 1,200 employees, significantly enhancing its capabilities through NCS’s global expertise in areas such as digital transformation and AI.
“This joint venture marks a significant milestone in our APAC growth journey as we continue to invest to meet the region’s growing demand for technology services, particularly AI-led solutions. Globe and Yondu’s deep local expertise, combined with NCS’ technology capabilities, will enhance our ability to drive business transformation and innovation, especially in the telecommunications sector,” said NCS CEO Ng Kuo Pin.
