Image via WikipediaPHINMA Corporation is investing about P424 million for the acquisition of a US-based and a local business process outsourcing firms focused on business research and competitive intelligence.
In a disclosure to the Philippine Stock Exchange, PHINMA said its executive committee has approved the purchase of an 85 percent interest in Fuld & Company, Inc. (Fuld) for $7.99 million.
Fuld is a business research and consulting firm focusing on business and competitive intelligence. It is incorporated in the United States, with offices in the US, UK and China.
The PHINMA executive committee also approved the purchase of a 100 percent interest in Business Back Office, Inc.-Global Business Research Support (BBI) for not more than P26 million and subscription in new shares for P52 million. BBI is a Manila-based Knowledge Process Outsourcing (KPO) firm.
“The acquisition of both firms will provide growth for PHINMA Corporation in the higher value business process outsourcing spectrum,” PHINMA said.
It added that the twin acquisitions of complimentary businesses will provide outsourcing jobs and build skills in the field of business research and competitive intelligence offering globally competitive products and services through a dedicated knowledge process outsourcing center and research engine in the Philippines.
http://mb.com.ph/node/322541/phinma-inve
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