DFNN Inc. said it has partnered with Spanish firm Consulting Informatico de Cantabria SL (CIC) for a joint venture capitalized at P12.5 million, with DFNN holding the majority at 50 percent.
“As an esteemed engineering and IT project development company, CIC has been at the forefront of innovation since its inception in 1990. Starting its journey in Spain, it has expanded its reach globally, establishing a presence in over 30 countries worldwide,” DFNN said.
CIC’s partners include industry giants such as Microsoft, Apple, Oracle, Dell, Cisco, and Amazon Web Services. Clients include PTT and Siemens, it added.
CIC’s product line encompasses software development and IT integration, ICT infrastructures, and cybersecurity, while also developing products such as assets management and support, IT consultancy, and applications and infrastructures maintenance for the electricity, telecom, oil and gas, railways, and government and public administration sectors.
DFNN said the partnership will expand the operations of the two companies “to support the Philippines and other Asian countries.”
The transaction aligns seamlessly with its expansion program, empowering it to pursue joint ventures with foreign entities, DFNN added.
“This strategic move promises to enhance the DFNN’s investment income, bolstering its financial outlook and positioning it for sustained growth,” it also said. – Ruelle Castro