MANILA, Philippines, April 17, 2020 /PRNewswire/ -- Globe Telecom, Inc. ("Globe") has entered into an agreement to acquire substantially all of the assets of US-based Cloud Consulting Companies, Cascadeo Corporation and Cascadeo Partners (referred to as Cascadeo) for US $4M. Globe shall incorporate new entities through which the acquisition will be made. As part of the transaction, Globe, along with Cascadeo, will make follow up investments into the entities for growth capital to fund the company's expansion strategies. Full execution of the agreement is targeted in the next few months following completion of regulatory approvals.
This investment echoes Globe's trust to build a robust ICT portfolio and deliver tools and solutions that propel businesses to stay competitive towards the digital future. Globe's vast resource pool and extensive reach in the Philippine market together with Cascadeo's specialized expertise in cloud-based products and services bring forth synergies, which will be passed on to the Philippine and US enterprise clients through an upgraded cloud-based product and service offering.
"The joint venture with Cascadeo will further strengthen our ability to invent, innovate, and experiment," said Globe President and CEO, Ernest Cu. "We will be leveraging on Cascadeo's Cloud-Native Consulting and Managed Services capabilities to further solidify our credibility as a cloud solutions provider for enterprises and small and medium business customers who are ready to digitally transform." The deal forms part of the strategy of Globe Business to accelerate development of its ICT capabilities and solutions and to provide their customers a complete suite of cloud-native products and services.
"We're excited to have a partner like Globe in the next stage of our growth journey. Their commitment to cloud-first and speed of adoption are rare to see in large organizations. We also admire that Globe has balanced achieving business goals with taking care of their people. We continue to be amazed by the talent of the Filipino workforce and partnering with Globe will be instrumental in helping us become an employer of choice as we broaden our footprint in the Philippine market," said Jared Reimer, CEO of Cascadeo Corporation.
Founded in 2006, Cascadeo is one of only a few elite Amazon Web Services ("AWS") Premier Consulting Partners in North America and is also a Managed Services Provider ("MSP"). Their expertise is on automation, Cloud-Native Platform as a Service, Data Analytics, Serverless Infrastructure and programmatic security. They also have professional consulting services and managed operations for customer deployments on AWS, Azure, Google Cloud Platform, NetApp Cloud Solutions and even on-premise VMWare private cloud environments. Cascadeo is head-quartered in Seattle, Washington and maintains a Cloud Operations Center of Excellence in Manila, which supports their customers in the US and the Philippines.
About Globe
Globe is a leading full-service telecommunications company in the Philippines and is publicly listed in the Philippine Stock Exchange with the stock symbol GLO. The company serves the telecommunication and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. It has major interests in financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare. Its principal shareholders are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region.
Globe News Room: globe.com.ph/about-us/newsroom
Follow @enjoyglobe on Facebook, Twitter, Instagram and YouTube.
About Cascadeo
Founded in July 2006, Cascadeo, a US-based entity with a subsidiary in the Philippines, is a Premier AWS Consulting Partner and Managed Services Provider (MSP) that specializes in cloud migration, artificial intelligence and machine learning. Originally established to focus on data centers and customized managed hosting, Cascadeo has evolved to become a Premier AWS Consulting Partner that also provides on-going managed services within the public cloud ecosystem. The company also has partnerships or certifications with other cloud vendors such as Microsoft Azure, Google Cloud Platform, Kubernetes and NetApp Cloud Solutions. Cascadeo.io, an AIOps-enabled platform, is considered the next generation managed services delivered as a SaaS (Software as a Service).
For more information, visit www.cascadeo.com
View original content:http://www.prnewswire.com/news-releases/globe-invests-in-cloud-business-to-expand-ict-capabilities-301042583.html
