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Manila Bulletin devider Business devider Easycall to raise P200 M for acquisition, capex

Easycall to raise P200 M for acquisition, capex

Published Jan 3, 2022 03:03 pm

The Delgado family’s EasyCall Communications Philippines, Inc. is obtaining up to P200 million bank loan or shareholder advances to fund the acquisition of sister company Transnational E-Business Solutions Inc. (TESI).

In a disclosure to the Philippine Stock Exchange, Easycall said the P200 million will be used to fund the acquisition, capital expenditures and for general corporate purposes.

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The listed firm is acquiring TESI at its book value of P162.93 million. TESI is a technology company that specializes in software development, software as a service, and information technology outsourcing.

EasyCall, which emerged as the market leader in paging in the 1990s, has since shifted its focus into becoming a data technology company, and is keen on expanding its service offerings in the digital space through the acquisition of TESI.

The acquisition of TESI will further enhance the products and service offerings of ECP as a technology company.

“We see synergy between EasyCall and TESI, having EasyCall directly own TESI, and we hope to expand our services to help businesses unlock their potential through digital transformation,” said ECP President Zaki Delgado.

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He added that, “We are very optimistic that through this new development with TESI, we can build on our culture of innovation and provide the best digital solutions that address the needs of our customers.”

For 20 years, TESI has been assisting PH-based and international companies to innovate digitally and has over 100 technology professionals specializing in agile delivery and professional services, with vast experience in developing web and mobile applications.

TESI ensures solutions are built to scale and suited to the business needs of MSMEs to enterprise level corporations.

TESI is 50 percent-owned by holding company Transnational Diversified Corporation and 50 percent by TDG Ventures, Inc., which is also the biggest shareholder of EasyCall at 88.03 percent.

Easycall said the acquisition of TESI is seen to “add to the overall business scale and capabilities of the ECP Group.”

Related Tags

EasyCall Communications Philippines Inc. Transnational E-Business Solutions Inc. (TESI) Transnational Diversified Group
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