Globe Telecom Inc. said Thursday it formed a joint venture with NCS Pte Ltd. (NCS) to strengthen the operations of its subsidiary Yondu Inc.
Under the agreement with NCSI Holdings Pte Ltd. (NSCI), Yondu will acquire NCSI Philippines from NCSI, becoming its fully-owned subsidiary.
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NCS will hold a 51-percent ownership in both Yondu and NCSI PH, with Globe retaining 49 percent.
The joint venture will have an enterprise value of P1.868 billion.
NCS is a leading Pan-APAC technology services company, and the joint venture between NCSI and Globe is projected to expand the client base to include international clients, particularly in the telco and adjacent sectors.