Singtel unit acquires 51% stake in Yondu in Philippine expansion bid

Through the partnership, NCS will scale its Philippines workforce to over 1,200 from 150.

NCS, a technology services firm under the Singtel Group, has announced a strategic joint venture with Globe Telecom, acquiring a 51% majority stake in Yondu, Globe’s IT solutions arm in the Philippines.

Through the partnership, NCS will scale its Philippines workforce to over 1,200 from 150, making it a major tech services player in the country.

The acquisition allows NCS global clients expanded access to digital, cloud, data, and AI services, whilst Yondu gains access to NCS global resources to enhance its existing capabilities in custom software development, cloud platforms, and eCommerce solutions.

Following the transaction, the joint entity will be rebranded as NCS Philippines.

The transaction values Yondu at approximately P1.87b (around $44m). NCS will pay a net consideration of P134m ($3m), with the deal funded through internal resources. The payment accounts for Yondu’s prior acquisition of NCS’ existing subsidiary in the Philippines.

Pending regulatory approvals, the deal is expected to close later this year.