Globe Telecom takes its IT Arm, Yondu, to Greater Heights through a JV with NCS

Photo: NCS

Globe Telecom, Inc., a leading digital platform in the Philippines with major interests in telecommunications, financial technology, corporate venture building, data insighting solutions and digital marketing, with the cooperation of NCS Pte. Ltd. (NCS), entered into an agreement with NCSI Holdings Pte. Ltd. (NCSI) to hold 51% ownership in Globe’s subsidiary, Yondu, Inc. (Yondu), as well as Yondu’s acquisition of NCSI Philippines (NCSI PH) from NCSI, making NCSI PH a fully owned subsidiary of Yondu. Upon closing, Globe will retain 49% ownership in Yondu and NCSI PH.

The resulting joint venture will have an Enterprise Value of P1,868 million.

NCS is a leading Pan-APAC technology services company, and the joint venture between NCSI and Globe is projected to expand the client base to include international clients, particularly in the telco and adjacent sectors.

Yondu’s significant local footprint, combined with NCS’ strengths in digital, cloud, data, and AI services and broad network across Asia Pacific are envisioned to transform the joint venture into a Pan-APAC player equipped with global expertise to develop customized digital solutions and advanced tools in accordance to customer specification and timeline.

The joint venture also aligns with Globe's strategy to develop responsive and compelling ICT capabilities for customers of all sizes.

Ernest L. Cu, President and Chief Executive Officer of Globe shared that, “Information Technology is the bedrock on which industries are built on. Information Technology enables, and changes our question from ‘how do we use this’ into ‘what other good things can we do with this?’ Our vision for Yondu is to be a force for good through effective IT products and services. Partnering with NCS will unlock new global opportunities, enabling Yondu to expand its reach and deliver more impactful IT solutions worldwide.”

Ng Kuo Pin, CEO, NCS, said, “This joint venture marks a significant milestone in our APAC growth journey as we continue to invest to meet the region’s growing demand for technology services, in particular, AI-led solutions. 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. 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 agreement is still subject to the satisfaction of conditions precedent to closing and other closing activities as outlined in the transaction documents.

Globe Telecom, Inc. is a leading digital platform in the Philippines, with major interests in telecommunications, financial technology, digital marketing solutions, corporate venture building and venture capital funding for startups. . The company serves the telecommunications and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. In 2019, Globe became a signatory to the United Nations Global Compact, committing to implement universal sustainability principles. Its principals are Ayala Corporation and Singapore Telecommunications, Ltd. (Singtel), acknowledged industry leaders in the country and in the region. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$5.4 billion as of the end of December 2024.

Yondu, Inc. is a leading IT solutions provider in the Philippines with over 20 years of expertise. A wholly-owned subsidiary of Globe, Yondu delivers secure, scalable, and innovative solutions such as Custom Software Development, Managed Security Services, eCommerce Solutions, Cloud Services, and Ready-to-Use Platforms.

Yondu’s success stems from a dedicated workforce and a commitment to delivering cutting-edge solutions aligned with our vision of shaping the future of IT in the Philippines. Trusted by clients nationwide, Yondu continues to drive technological advancements and transform ideas into reality for businesses across various industries.

NCS, a subsidiary of Singtel Group, is a leading technology services firm with presence in Asia Pacific and partners with governments and enterprises to advance communities through technology. Combining the experience and expertise of its 13,000-strong team across 57 specialisations, NCS provides differentiated and end-to-end technology services to clients with its NEXT capabilities in digital, data, cloud and platforms, as well as core offerings in application, infrastructure, engineering and cybersecurity. NCS also believes in building a strong partner ecosystem with leading technology players, research institutions and start-ups to support open innovation and co-creation.

NCSI (Philippines), Inc. is the local subsidiary of NCS Pte. Ltd., specializing in over 20 competencies spanning Software Engineering, Infrastructure, Data Architecture, and Development, Security and Operations (DevSecOps). The company has over 10 years of experience catering to Philippine Telecommunications, Financial Services, and Transport companies.