Centurion Capital Pacific, a Philippine IT engineering dispatch company, has been acquired by Japanese holding firm Yumeshin Holdings for a still undisclosed amount. Centurion dispatches IT engineers to US and European companies in the Philippines to service their demand for IT personnel. Yumeshin, a business also engaged in labor dispatch, said its acquisition of Centurion is justified because it sees the Philippine business process outsourcing (BPO) market as expanding. The company said the BPO industry in the Philippines is now focusing on high-level skills to thrive in an environment changing fast from the impact of automation and robotics. As the country focuses on nurturing IT engineers, the Japanese firm sees a premium in acquiring 75% of Centurion, which will then be converted into a subsidiary. Yumeshin said the acquisition will also help tackle shortages in labor supply in the IT industry which the company expects to experience an IT labor shortage of 790,000 by 2030.
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