DFNN Inc. said it is incorporating a P100-million subsidiary that will house future asset acquisitions.
The still to be incorporated entity will be infused with P25 million subscribed capital from DFNN that will be fully subscribed, it said.
In mid-March, the company announced reappointing Ricardo Banaag, its chief technology officer, as the new chief operating officer vice Dominic Laconico who transplanted to Europe.
Banaag has been with DFNN for five years and has over 30 years of experience in the technology industry. He previously served as the country manager of Intel Philippines for over 16 years.
Before joining Intel, he also served as country manager for IBM’s Global Network and was responsible for setting up one of the first internet service providers in the Philippines.
“The Company greatly appreciates Mr. Laconico’s service and contributions to the company and wishes him all the best in his future endeavors as he and his family set new roots in Europe,” DFNN earlier said.
