Xurpas buys 51% of Philippine telco Globe’s unit Yondu

From L-R: Globe CFO Albert de Larrazabal, Xurpas president Nix Nolledo, and Globe president Ernest Cu.

Philippine tech company Xurpas is shelling out PHP 900 million (US$19.3 million) for a 51 percent stake in Yondu, a mobile content developer and IT services provider owned by telco Globe Telecom.

The companies announced today that they signed an agreement, subject to closing conditions.

They said the investment solidifies their partnership in the internet and digital space. Xurpas creates products and services for mobile users, including subscribers of Globe. The company’s portfolio includes casual games, messaging and other social discovery applications, as well as call/SMS/data bundles and mobile commerce.

Some of Yondu’s services sync with what Xurpas does. Yondu offers mobile content, SMS push, and other mobile solutions for customer engagement. It also does mobile app, website, and software development as well as staffing of IT professionals for companies in the pharmaceutical, banking, outsourcing, telecommunications, and manufacturing industries.

Globe president and CEO Ernest Cu says the deal with Xurpas will take Yondu regional. “We have built the company into a great platform for media and content innovation and it is time to bring our aspirations regional. We have chosen to work with Xurpas to make this happen.”

“Xurpas’ track record in building businesses centered on consumer content will round out the technical and innovative capabilities of Yondu,” he says.

“Globe has been our strongest partner in the Philippines and the investment into Yondu strengthens our joint capabilities,” adds Xurpas president Nix Nolledo.

Founded with only PHP 62,500 (US$1,340) capital 14 years ago, Xurpas is now using proceeds from its initial public offering to expand across Southeast Asia. The company earlier invested in Singapore-based game development studio Altitude Games, multiplayer games platform MatchMe, and Indonesian mobile content provider Ninelives Interactive. It also bought a stake in American mobile search engine Quick.ly.