A foreign private equity firm has infused $50 million into Integreon Philippines is an Ayala-led outsourcing outfit to help the latter expand its operations. The Integreon President Erik Tabuena stated the United Kingdom-basef Actis would get two seats on the board of Integreon as a result of the investment in a press briefing. Mr. Tabuena said that they are going to pursue expansion plans and part of the investment would go to a planned second site here in the Philippines. He said that the Integreon is planning to double its work force of 200 here in the Philippines and 2,000 around the world. A new integreon building will be built in Metro Manila.
With the passage of Actis, listed conglomerate Ayala Corp.’s stake in Integreon will frop to 56% from 86% Ayala Corp will keep three seats on the board. An Integreon nominee and an independent director will occupy two seats. The Chief Executive of Ayala’s Business Process Outsourcing, Fred I. Ayala investment arm LiveIt Solutions Inc., stated the company continues to regard the Business Process Outsourcing sector as a good area for investment.
Mr. Tabuena said that the Integreon, a knowledge process outsourcing firm has four businesses all of which are offered by the companys site in the Philippines document services, analytics, legal services and business services. Actis says that the Integreon revenues have grown by 83% since 2006 to an $89-million revenue run rate.
REFERENCE:
http://www.abs-cbnnews.com/business/02/17/10/british-investor-pours-50-m-ayala-led-outsourcing-firm
