Asticom Eyes Strategic Partnerships, JVs, Acquisitions
The Asticom Group of Companies, a wholly-owned subsidiary of the Globe Group, is looking at entering into strategic partnerships, joint ventures, and acquisitions to grow and expand its portfolio of businesses.
Mharicar Castillo-Reyes, Asticom President and CEO, said they are currently in talks with several parties but emphasized that they are not interested in simply having a partner investor.
“A number of private equities have approached us in the past three months and have raised interest. We’re making sure that we find the right strategic partners that will help us grow the business and add value to the solutions we offer to address the needs of our customers,” she said.
In addition, Marc Kerveillant, General Manager of Asticom’s subsidiary Fiber Infrastructure and Network Services Inc. (FINSI), said they are open to joint ventures and acquisitions.
“We’re in discussion with several companies for joint ventures. Our main goal is to increase our capabilities, grow the business, and eventually, create a connected nation,” said Kerveillant.
FINSI is a local solutions provider for the telecom and technology industries, providing engineering and enablement services.
He explained that FINSI relies on people and teams to deploy fiber and have a nationwide presence. Being an engineering company, they need to collaborate, enter into joint ventures, or even acquire companies to increase their product and service offerings to clients.
Aside from FINSI, Reyes said there are also a lot of potential partnerships across the different companies under Asticom.
Asti Business Services Inc. (ABSI), a business process solutions company, eyes capturing more businesses in the Asia-Pacific region, and growing its centers of expertise such as digital solutions, HR, finance, customer experience, and corporate services.
“As we continue to grow, we also plan to establish more strategic partnerships both in and outside of the Philippines. We want to expand our reach through the relationship we build with our partners as well,” said Mel Tecson, General Manager of ABSI.
As for BRAD, the on-demand logistics solutions plans to go nationwide and bring its services to more localities in the Visayan and Mindanao regions. It is also looking to tap into more opportunities in the e-commerce space as it hopes to become the nation’s most advanced, efficient, and impactful tech-enabled provider of end-to-end supply chain technology solutions.
“We continue to build more partnerships for BRAD, especially with the local businesses in the country. We’re already gearing up to do the same for the other regions, as we want to take BRAD nationwide,” said Richie Santos, General Manager of BRAD Warehouse and Logistics Solutions..
Other Asticom subsidiaries are Asti Business Services Inc. (ABSI), a business process solutions company, and BRAD, an on-demand tech-enabled logistics solutions provider.
Late last year, Asticom acquired HCX Technology Partners Inc. from the Ayala Corporation to enhance and augment its human resource and digital technology solutions.
Globe supports the United Nations Sustainable Development Goals, particularly UN SDG No. 9, highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development. It is committed to upholding the UN Global Compact principles and contributing to 10 UN SDGs.
To learn more about Asticom, visit www.asticom.com.ph.