The joint venture will see NCS acquire a 51% stake in Globe's IT arm Yondu in the Philippines for PHP 605 million ($10.5 million), creating a new entity named NCS Philippines.
Ng Kuo Pin, CEO of NCS, said: “Globe and Yondu's deep country expertise, coupled with NCS's technology capabilities, will increase our capacity to further drive business transformation and innovation, especially in the telecommunications sector.
“It will offer greater value to our global clients, who will benefit from our expanded Global Delivery Network as well as greater access to our digital, cloud, data and AI services.”
The new firm will scale its workforce from 150 to more than 1,200, with plans for NCS to bring its digital, cloud, data and AI services to augment Yondu's existing service offerings.
Ernest L. Cu, president and CEO of Globe, said: “Partnering with NCS will unlock new global opportunities, enabling Yondu to expand its reach and deliver more impactful IT solutions worldwide.”
The proposed joint venture project is subject to regulatory approval.
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