Ayala Corp trims exposure to BPO industry
Ayala Corp, the publicly listed holding firm for the diversified interests of the Ayala Group, has trimmed its investments in the business process outsourcing (BPO) industry while scouting for more acquisitions in the power and automotive sectors. LiveIt Investments Ltd, an Ayala Corp subsidiary, has disposed 58.71% and 82.5% shareholdings in Integreon and IQ BackOffice Holdings, respectively. However, Ayala Managing Director and Corporate Strategy and Development Group Head Paolo Maximo F. Borromeo said Ayala continues to see the potential of the BPO industry in driving the Philippine economy. The holding firm is trimming its exposure to the BPO sector in favor of education.
