The Asticom Group of Companies, a wholly-owned subsidiary of the Globe Telecom Group, is hunting for joint venture partners to expand its business and is currently in talks with several parties, Mharicar Castillo-Reyes, Asticom President and CEO, announced Monday, April 18.
The group is not interested in simply having a partner investor, she underscored.
“A number of private equities have approached us in the past three months and have raised interest. We’re making sure that we find the right strategic partners that will help us grow the business and add value to the solutions we offer to address the needs of our customers,” the CEO elaborated.
In addition, Marc Kerveillant, General Manager of Asticom’s subsidiary Fiber Infrastructure and Network Services Inc. (FINSI), said they are open to joint ventures and acquisitions.
“We’re in discussion with several companies for joint ventures. Our main goal is to increase our capabilities, grow the business, and eventually, create a connected nation,” he explained.
FINSI is a local solutions provider for the telecom and technology industries, providing engineering and enablement services.
The company relies on people and teams to deploy fiber and have a nationwide presence.
Being an engineering company, they need to collaborate, enter into joint ventures, or even acquire companies to increase their product and service offerings to clients.
Aside from FINSI, there's a lot of potential partnerships across the different companies under Asticom, Reyes revealed.
Asti Business Services Inc. (ABSI), a business process solutions company, eyes capturing more businesses in the Asia-Pacific region, and growing its centers of expertise such as digital solutions, HR, finance, customer experience, and corporate services.
“As we continue to grow, we also plan to establish more strategic partnerships both in and outside of the Philippines," according to Mel Tecson, General Manager of ABSI.
'We want to expand our reach through the relationship we build with our partners as well,” he undescored.
Earlier BRAD, the group's on-demand logistics solutions didclosed its plans to go nationwide and bring its services to more localities in the Visayan and Mindanao regions.
BRAD is also looking to tap into more opportunities in the e-commerce space as it hopes to become the nation’s most advanced, efficient, and impactful tech-enabled provider of end-to-end supply chain technology solutions.
“We continue to build more partnerships for BRAD, especially with the local businesses in the country," says Richie Santos, General Manager of BRAD Warehouse and Logistics Solutions..
"We’re already gearing up to do the same for the other regions, as we want to take BRAD nationwide,” he noted.
Other Asticom subsidiaries are Asti Business Services Inc. (ABSI), a business process solutions company, and BRAD, an on-demand tech-enabled logistics solutions provider.
Late last year, Asticom acquired HCX Technology Partners Inc. from the Ayala Corporation to enhance and augment its human resource and digital technology solutions.