Leading IT integrator Micro-D International Inc. and subsidiary Novare Technologies Inc. renewed their commitment to support the country’s digitalization efforts, after sealing a multi-billion-peso investment deal with Advantage Partners of Japan.
MDI chairperson Myla Villanueva said the partnership with AP would help it achieve its full potential as a trusted digital transformation partner for market leaders, both here and in the region.
“We really share the same values of ensuring that we take care of our people and continue to hold both high ethics and integrity in our world. So, why now? Because the timing is just right and we do want to expand beyond our shores and build a national champion for the Philippines,” Villanueva said.
Founded in 1988, MDI Novare is a leader in the local IT market. It caters to blue chip companies, helps clients drive digital transformation through application development, infrastructure, data analytics, and IT security. It also has industry expertise in telecommunications, financial services, public industries and domestic conglomerates.
“The partnership simply came at the most perfect time, when digital transformation became even more of an imperative for corporations to serve the evolving needs of their customers,” said Villanueva, a tech and digital expert.
Leading global independent investment bank Evercore and international law firm Milbank advised MDI in the deal.
Villanueva said MDI had been toying with a plan to go public within three to six years after sealing the investment deal with AP.
“We’ve always run ourselves as if we were a public company. We are working with Advantage Partners to see whether there is a four-year horizon [for IPO] or sooner than that. For this deal, I felt it was important to invite international investors only because that would give us a better understanding and flavor of the different markets that we want to serve,” she said.
AP head of Asia Emmet Thomas said the premier private equity firm looked into MDI and was glad to offer capital and technology support to the Philippine tech firm.
“MDI is a very dynamic company with strong growth prospects. We see the opportunity in them to continue to succeed and advance further. We hope this will be the first of many investments in the Philippines for us,” he said.
“The transaction represents the first investment in the Philippines by AP Funds, and Advantage Partners is thrilled at the opportunity to help MDI fulfill its digital transformation mission in the Philippines and the rest of Asia,” he said.
AP is a leading private equity investment firm in Japan, with presence in 43 companies across industries. Operating globally, AP offers portfolio and investment management, financial planning, investment advisory and consulting services. Its main limited partners include Marubeni Corp. and Mitsui & Co.
“As we enter into this milestone partnership, we are confident that this will pave the way for more expansion opportunities for MDI and introduce more innovations and digital solutions that would help the country prepare for the next future, towards a more digitized world,” Villanueva said.