Globe’s Asticom JVs, under discussion for acquisition

GLOBE TELECOM, Inc. Monday announced that its affiliate, Asticom Group of Companies, plans to expand its business portfolio through strategic partnerships, joint ventures (JVs) and acquisitions.

The Globe said in a statement that the agency was currently “negotiating with a number of parties.”

Asticom President and CEO Mharicar Castillo-Reyes revealed that “several private equities” have approached the company over the past three months and increased interest.

“We make sure we find the right strategic partners that will help our business grow and add value to the solutions we offer to meet the needs of our customers,” he added.

Meanwhile, Asticom’s subsidiary Fiber Infrastructure and Network Services, Inc. (FINSI), a solution provider for the telecom and technology industries, also open to joint ventures and acquisitions.

“We are in talks with a number of companies for joint ventures. Our main goal is to build our capacity, grow our business and ultimately build a united nation, “said Mark Kervilant, FINSI’s general manager.

The Globe announced last week that BRAD, a shared service provider under Asticom, aims to cover areas outside of Luzon this year.

Asticom BRAD, Asti Business Services, Inc. (ABSI), FINSI, and HCX Technology Partners, Inc.

ABSI is Asticom’s business processes solution arm, while HCX is the provider of human resources, customer relationship management, and digital solutions.

Asticom hopes to reach the public within five years.

Shares of Globe Telecom fell 0.98% to close at P2,424 on Monday. – RJ L Balinbin