Acquire BPO buys out Shore Solutions


Australia-based Acquire BPO has acquired Shore Solutions, one of the fast-growing business process outsourcing companies (BPO) in the Philippines. The size of the deal, which involves a complete buyout of Shore Solutions, was not disclosed. This a second investment by the contact centre operator, in a Philippine firm, in less than… Read more »

PH telco Globe registers 198% jump in income

Philippine-based telco Globe Telecom has reported a net income surge of 198% for the first nine months of the year (January-September 2014). Its net profit increased by 22%, year on year for the same period, on the back of increasing consumer base and higher data connectivity demand in the country, said the company. The net income surged… Read more »

Startups vie for $87k ozAPP award

Startups in the Asia-Pacific region will be competing for a prize money of up to $87000 (AUD$100,000) in the ozAPP Awards, a competition for innovative online apps. Slated for February 2015, the ozAPP Awards seek to find the region’s best mobile, web and cloud app concepts.The competition also aims to… Read more »

Dragonpay raises Series A funding from GMO

Philippines-based payment solutions provider Dragonpay has raised Series A funding from Japan’s e-payment titan GMO Global Payment Fund (GMO). The investment amount has not been disclosed. Dragonpay plans to use the newly raised funds to promote e-commerce in the country, while venturing into new payment channels, specifically on the mobile. These strategies are meant… Read more »

Northern Trust to invest $2.2b in Asia-Pacific ops, opens PH hub

US-based independent banking organisation Northern Trust launched its global operations center in the Philippines on Tuesday. The center will support processing and back-office functions for the company’s clients worldwide. The center is third such expansion site in Asia-Pacific this year, for the company, which has allocated $2.2 billion budget to scaling up… Read more »

SAP opens $7.7m finance, sales hub in PH

German software firm SAP has opened its long-awaited finance and sales hub in the Philippines. The company has invested $7.7 million to establish this hub, which is located at the Cyberspace Beta building in the financial district of Ortigas in Pasig City. The new facility is SAP’s third such site… Read more »

CashCashPinoy cleared of fake goods sale charge

Philippine-based mobile e-commerce company CashCashPinoy has been cleared of the charges related to the sale of fake luxury goods. A local court, ruled in the company’s favour dismissed the claim as a “fraudulent” issue. CashCashPinoy also denied reports regarding suspension of their online transactions by business partners Banco De Oro… Read more »

Philippines startup scene poised to take off: John Orrock

For the past several years, the tech industry in the Philippines has been considered a lucrative investment opportunity by the global investors. In fact, the local entrepreneurs are described to be “techie” in nature. The strange irony here is that, on the ground level, the country has very low levels of tech… Read more »

EastWest, PEMI launch feeder fund

Philippines-based EastWest Bank has joined hands with the investment management company Philequity Management Incorporated (PEMI), to launch the EastWest Philequity Feeder Fund. The investment product is a is a peso-denominated unit investment trust fund (UITF) that invests 90% to 100% of its assets in Philequity Fund Incorporated (managed and distributed… Read more »

PH set for smartphone explosion in 2015

Next year, Philippines is expected to witness an explosion of premier smartphone users, says the country-based telecom operator Smart Communications (Smart) The smartphone user penetration, which stands at 15% of the population, is expected to go up to 50% in 2015, the company added, citing a study by On Device Research. Smart has already… Read more »