Xurpas acquires 70% of Seer Technologies

Visual from the Xurpas website

Philippine-based consumer tech firm Xurpas Inc has acquired a 70 per cent stake in Seer Technologies Inc, a local mobile tech company, in a bid to boost its mobile solutions ability.

Xurpas informed the stock exchange that it bought the majority stake in Seer at $399,000 (P18 million) and an earn out amount corresponding to a fixed percentage of Seer’s net income after tax for the years 2015 to 2017.

Also read: PH based Xurpas invests $1m in US tech startup Quick.ly

Seer, which started operating in the Philippines in 2013,  offers software consultancy, design, development, and managed services focused on mobile, cloud, and data technologies.

It is also an Amazon Web Services managed partner.

Xurpas CEO Nix Nolledo said the acquisition of Seer enhances their ability to provide mobile solutions for enterprise clients.

Also read: PH co Xurpas acquires Altitude Games for $740k

“As consumers move from being web to mobile-centric, corporations will need to have a strong presence on phones, tablets and other devices,” Nolledo said. “For years, Seer has been a leader in the mobile platform development space, and is perfectly positioned to serve this rapidly growing industry.”

Also read: Xurpas, Holcim ink tech platform deal in PH

Empowered mostly by software engineers, Seer has around 50 employees and growing. Its clients are from the telecommunications, banking, real estate, oil and gas, hospitality, media, and retail sectors.

Seer is now the sixth company that Xurpas has invested in since its IPO (initial public offering) debut seven months ago at the Philippine Stock Exchange, where it raised $30.4 million. Xurpas is the first listed startup in the Philippines.

Also read:

Xurpas invests $1.4m for 31.5% stake in Singapore’s MatchMe

Xurpas acquires Indonesian tech firm SDI

PH startup Xurpas acquires second tech firm Storm Flex Sys for $4.3m

Lafarge-Holcim merger: No immediate bearing on Malaysian business

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.