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Một ngày vào tháng 3 năm 2023, những người hàng đầu công ty nay Philippines has reported that their subsidiary of web giant Philippines Media Corporation (Philippines Corp.) will be selling its entire holding stake in Philippine Stock Exchange-listed stock company E拍立得 Corp.
Reportedly, the acquisition was expected to make the Philippine Corp a net asset owner (NAO) of E拍立得 Corp., enabling it to better manage its investment portfolio.
The acquisition was announced in late March by the Philippine Corp.'s board of directors, after it had already made an offer for the entire 45% stake held by the local bank called Bank of the Philippines Corp. (BPLC).
According to sources close to the situation, the Philippine Corp. is seeking to raise capital through the sale of its stake in E拍立得 Corp. at a price of around PHP 2 billion (US$38.2 million). The transaction is expected to close within the next few months.
"This acquisition is part of our long-term strategic plan to enhance our position as a leading provider of digital solutions and expand our services in Southeast Asia," said CEO of the Philippine Corp., John Tagalog.
"We believe that this acquisition will not only help us deepen our relationship with E拍立得 Corp., but also enable us to increase our revenue streams and grow our customer base," he added.
E拍立得 Corp. is a local technology company that specializes in cloud computing solutions and mobile app development. It has been in operation since 2006 and has established itself as one of the largest tech companies in the country.
In recent years, the Philippine Corp. has focused on expanding its operations across Southeast Asia, particularly in Indonesia and Singapore. Its acquisition of E拍立得 Corp. is seen as a significant step forward in this effort.
However, there have been some concerns raised about the potential impact of this acquisition on the broader market for smartphone apps in Southeast Asia. Some investors have raised questions about whether the acquisition will lead to increased competition in the region or negatively affect smaller startups.
"It's too early to say what effect this acquisition will have on the smartphone app market in Southeast Asia," said analyst Atul Rastogi of rating firm rating scale.
"But we do expect this acquisition to be positive for the sector overall, given the size of both companies and their respective expertise."
Overall, the acquisition of E拍立得 Corp. is a significant move for the Philippine Corp. and could have a major impact on the local tech industry in Southeast Asia. However, it remains to be seen how the acquisition will play out and whether it will ultimately contribute to the company's growth plans.
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