PLDT buys outsourcing firm

29.05.2006
Philippine Long Distance Telephone Co. (PLDT), through its IT subsidiary ePLDT, has announced the acquisition of SPI Technologies Inc. in a move to become the largest business process outsourcing (BPO) service provider in the country.

In a statement, PLDT said its board of directors has authorized ePLDT to acquire 100 percent of SPI's direct and indirect Philippine and offshore subsidiaries. SPI's corporate headquarters is based in New York, USA and has operations in the US, India, China, Philippines and Vietnam.

PLDT said it will use internally generated cash to fund ePLDT's acquisition of SPI although no amount was specified.