EasyCall Communications Philippines Inc. plans to tap P200 million in bank financing as it decides to acquire software development firm Transnational E-Business Solutions Inc. (TESI).
The company will be acquiring TESI announced in December last year, for P162.92 million, based on the company’s end-June 2021 book value, covering one million shares.
“The acquisition of TESI will further enhance the products and service offerings of ECP as a technology company,” the company said.
“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,” Zaki Delgado, EasyCall president, earlier said.
EasyCall, which was 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, said Delgado.
“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,” he said.
Delgado said for 20 years, TESI has been assisting Philippine-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,” he said.
TESI is owned 50 percent by holding company Transnational Diversified Corp. and 50 percent by TDG Ventures, Inc., which is also the biggest shareholder of EasyCall at 88.03 percent.
