Asiatel Outsourcing joins New Media Capital in $8Mn deal
PASIG CITY, PHILIPPINES — Asiatel Outsourcing Ltd., a business process outsourcing (BPO) firm based in the Philippines, is set to accelerate its international expansion following its full acquisition by New Media Capital 2.0 Inc., a Canadian public company, in a deal worth approximately US$8 million.
The agreement will see New Media Capital acquire 100% of Asiatel’s outstanding shares, marking Asiatel’s entry into the North American public markets and positioning it for expansion across the technology and outsourcing sectors.
Asiatel’s growth story in Southeast Asia
Founded in 2016, Asiatel Outsourcing Ltd., through its operating arm Asia Teleservices Inc. (ATI), delivers tailored remote staffing and back-office services to more than 100 clients across nine countries, including Canada, the United States, the United Kingdom, Australia, and Singapore.
Headquartered in Pasig City, Metro Manila, ATI employs over 400 full-time staff and operates from a 6,500 sq. ft. Grade A facility equipped with advanced IT and voice infrastructure. Services include customer engagement, data processing, employer-of-record solutions, and AI-driven support, made possible by a new partnership with automation firm FileAI.
Strategic move to support global expansion
Under the terms of the deal, New Media Capital will issue 40 million post-consolidation shares to Asiatel shareholders at a price of US$0.20 per share.
The transaction also includes a concurrent US$1 million financing round to support growth initiatives in the Philippines, brand development in Canada, and AI-led service innovation.
New Media will undergo a name and ticker symbol change following closing, with a restructured leadership team that includes Jasjit Singh Anand as CEO and Randa Kachkar as interim CFO.
The deal is pending final approval from the TSX Venture Exchange. New Media’s shares remain halted during the review process.
