To beef up its cloud business, Globe Telecom Inc. coughed up P173 million to buy 67 percent of the largest local partner of a global Customer Relationship Management (CRM) solutions provider.
Globe, through its wholly owned subsidiary, GTI Business Holdings, Inc., is acquiring majority stake in Third Pillar Business Applications Inc. (TPBAI).
Third Pillar is the Philippines’s largest gold partner of Salesforce, the world leader in CRM solutions.
“This acquisition expands our suite of cloud business offerings, including Software-as-a-Service applications,” explained Globe President and CEO Ernest Cu.
The deal likewise enables TPBAI to acquire shares of Third Pillar Global Delivery Center, Inc., its outsourcing affiliate.
Third Pillar boosted Salesforce’s growth in the Philippines, hauling in the country’s largest companies in its client roster.
It is also the exclusive local partner and reseller of Syniti (formerly BackOffice Associates), a US-based company which has solved the world’s most complex data challenges for over 20 years.
“Globe’s investment in Third Pillar empowers both entities to face the digital future from a position of strength,’ according to Jennifer Ligones, President and CEO of Third Pillar.
Globe will enhance its ability to provide enterprise business solutions to its customers, which is a critical complement to its core business, she pointed out.
“In turn, Third Pillar will be able to achieve greater efficiencies and sustainable local and global growth as it gains access to Globe’s platform, customer base and expertise.”
The transaction forms part of Globe’s strategy to be the trusted advisor of enterprise customers in the Information and Communications Technology space.