Globe Invests in Cloud Business to Expand ICT Capabilities
Manila, Philippines - April 17, 2020 - Globe Telecom, Inc. (“Globe”) has entered into an agreement to acquire substantially all of the assets of US-based Cloud Consulting Companies, Cascadeo Corporation and Cascadeo Partners (referred to as Cascadeo) for US $4M. Globe shall incorporate new entities through which the acquisition will be made. As part of the transaction, Globe, along with Cascadeo, will make follow up investments into the entities for growth capital to fund the company’s expansion strategies. The full execution of the agreement is targeted in the next few months following the completion of regulatory approvals.
This investment echoes Globe’s thrust to build a robust ICT portfolio and deliver tools and solutions that propel businesses to stay competitive towards the digital future. Globe’s vast resource pool and extensive reach in the Philippine market together with Cascadeo’s specialized expertise in cloud-based products and services bring forth synergies, which will be passed on to the Philippine and US enterprise clients through an upgraded cloud-based product and service offering.
“The joint venture with Cascadeo will further strengthen our ability to invent, innovate, and experiment,” said Globe President and CEO Ernest Cu. “We will be leveraging on Cascadeo's Cloud-Native Consulting and Managed Services capabilities to further solidify our credibility as a cloud solutions provider for enterprises and small and medium business customers who are ready to digitally transform.” The deal forms part of the strategy of Globe Business to accelerate the development of its ICT capabilities and solutions and to provide its customers with a complete suite of cloud-native products and services.
“We’re excited to have a partner like Globe in the next stage of our growth journey. Their commitment to cloud-first and speed of adoption is rare to see in large organizations. We also admire that Globe has balanced achieving business goals by taking care of their people. We continue to be amazed by the talent of the Filipino workforce and partnering with Globe will be instrumental in helping us become an employer of choice as we broaden our footprint in the Philippine market,” said Jared Reimer, CEO of Cascadeo Corporation.
Founded in 2006, Cascadeo is one of only a few elite Amazon Web Services (“AWS”) Premier Consulting Partners in North America and is also a Managed Services Provider (“MSP”). Their expertise is on automation, Cloud-Native Platform as a Service, Data Analytics, Serverless Infrastructure, and programmatic security. They also have professional consulting services and managed operations for customer deployments on AWS, Azure, Google Cloud Platform, NetApp Cloud Solutions and even on-premise VMWare private cloud environments. Cascadeo is headquartered in Seattle, Washington and maintains a Cloud Operations Center of Excellence in Manila, which supports its customers in the US and the Philippines.