EasyCall to acquire TESI
Telecommunications company EasyCall Communications Philippines (ECP) is set to acquire 100% of the outstanding shares of IT firm Transnational E-Business Solutions Inc. (TESI)
The telecom said that the deal will boost its position as a technology company. The acquisition cost is estimated to reach P163 million (US$3.2 million).
In a statement, EasyCall said TESI will complement “ECP’s current services on connectivity, data, and technology services.”
The sale is scheduled to be concluded early next year once it completes sourcing the funds for the acquisition from bank loans and shareholder advances.
TESI provides digital adoption services through systems development using low-code applications, software as a service, and information technology outsourcing, among others.
It is 50% owned by Transnational Diversified Corp. (TDC) and 50% owned by TDG Ventures Inc. (TVI). ECP is 88.03% owned by TVI.
