Xurpas buys majority stake in Philippine mobile tech firm

Philippine consumer technology firm Xurpas has acquired a 70 percent stake in Seer Technologies, the company confirmed today. Seer is a software firm focused on mobile, cloud, and data technologies.

In a disclosure to the Philippine Stock Exchange, Xurpas announced it acquired the majority stake in Seer for PHP 18 million (US$399,000) and an earnout amount corresponding to a fixed percentage of Seer’s net income after tax for the years 2015 to 2017.

“The acquisition of Seer enhances our ability to provide mobile solutions for our enterprise clients. As consumers move from being web to mobile-centric, corporations will need to have a strong presence on phones, tablets, and other devices. For years, Seer has been a leader in the mobile platform development space, and is perfectly positioned to serve this rapidly growing industry,” said Xurpas CEO Nix Nolledo.

Seer started operating in the Philippines in 2003 as a mobile technology company and has since been developing mobile applications for its clients. Today, Seer is 50 employees strong and growing, with its human resource base composed primarily of software engineers. It has established a roster of clients from the telecommunications, banking, real estate, oil and gas, hospitality, media, and retail sectors. Some of its services sync with what Xurpas does for corporate clients.

In 2014, Seer recorded revenues of PHP 70 million (US$1.55 million).