PLDT Inc. has announced that the Board approved the investment of P2.15 billion in Multisys Technologies Corporation (“Multisys”) for a 45.73% interest in the Philippine software development and IT solutions provider.
The investment will be done through PLDT’s wholly owned subsidiary, PLDT Global Investments Holdings, Inc. (PGIH). The transaction is expected to be completed by next month.
Founded by software programmer-entrepreneur David L. Almirol, Jr., Multisys has developed over the past eight years a number of software platforms that can be used by its pool of programmers to create highly scalable, flexible and customizable software solutions as required by its clients.
These software platforms include those for payment gateways such as Bayad Center, for utilities like power and water, for data center setup and connectivity, for big data handling and analytics, and cyber security.
“This investment positions PLDT as a telecoms and digital services provider with core software development capabilities,” said PLDT Chairman and CEO Manuel V. Pangilinan. “With the software savvy of Multisys, PLDT will be able to offer more custommade solutions to its customers and thus deepen its relationships with them.”
The specialized industry solutions of Multisys complement the suite of solutions of PLDT Enterprise and ePLDT and can be further fortified by ePLDT’s managed infrastructure and cyber security solutions.
Multisys can also strengthen the ongoing digital initiatives of ePLDT and Voyager Innovations, particularly in the fields of electronic payments and digital financial services. “Working with Multisys will enable us to step up our efforts to provide compelling digital solutions to address the specific requirements of our Enterprise customers. This will sharpen our competitive advantage and at the same time accelerate our digital transformation,” said Ernesto R. Alberto, Chief Revenue Officer for the PLDT Group.