Filipino operator Globe Telecom says it has entered into an agreement to acquire ‘substantially all of the assets’ of US-based cloud consulting firms, Cascadeo Corporation and Cascadeo Partners (referred to as Cascadeo) for USD4 million. The move forms part of a wider plan to develop a solid ICT portfolio and ‘deliver tools and solutions that propel businesses to stay competitive towards the digital future’. The telco explained in a press release: ‘Globe, along with Cascadeo, will make follow-up investments into the entities for growth capital to fund the company’s expansion strategies. Full execution of the agreement is targeted in the next few months following completion of regulatory approvals’.
‘The joint venture with Cascadeo will further strengthen our ability to invent, innovate, and experiment,’ said Globe President and CEO, Ernest Cu. ‘We will be leveraging on Cascadeo’s Cloud-Native Consulting and Managed Services capabilities to further solidify our credibility as a cloud solutions provider for enterprises and small and medium business customers who are ready to digitally transform.’