Singtel’s NCS expands in the Philippines through a joint venture for clients to better access services

[SINGAPORE] NCS, Singtel’s technology services arm, is expanding its presence in the Asia-Pacific (Apac) region through a joint venture with Globe Telecom in the Philippines.

The tech company announced on Thursday (Mar 27) that its wholly owned subsidiary NCSI Holdings has acquired a majority stake in Globe’s IT arm Yondu in the Philippines. The move will give clients better access to digital, cloud, data and artificial intelligence services, it said in a statement.

NCSI Holdings will acquire a 51 per cent stake in Yondu for a total net consideration of 134 million Philippine pesos (S$3 million) – net of the 818 million pesos used by Yondu to acquire the existing NCS subsidiary, NCSI Philippines.

This will bring the post-transaction enterprise value to around 1.9 billion pesos. The new entity will be renamed NCS Philippines.

Ng Kuo Pin, NCS’ chief executive officer, said: “Globe and Yondu’s deep country expertise, coupled with NCS’ technology capabilities, will increase our capacity to further drive business transformation and innovation, especially in the telecommunications sector.”