PLDT acquires BPO firm SPI for US$135M

Philippine Long Distance Telephone Co. (PLDT) has finalized the acquisition of business process outsourcing firm SPi Technologies, Inc. through subsidiary ePLDT.

EPLDT acquired 100 percent of the shares of SPi from its sole shareholder, SPi Tech L.P. for US$135.34 million in cash, PLDT said in a statement Tuesday.

As part of the transaction, ePLDT also acquired a $7 million debt owed by SPi at face value. In addition, ePLDT advanced $16.43 million to SPi for it to fully pay its debt owed to DBS Bank Singapore.