IP E-Games buys 60% stake in Internet café

Listed IP E-Games Ventures Inc. has completed its acquisition of the CyBr brand of Internet cafés, in line with efforts to build its network of stores as the ideal platform to launch its line of video games.

In a statement, the company said it had signed a subscription agreement to acquire a 60-percent stake in a company called Webworx Computer Technology Corp., which owns and operates the CyBr brand.

“CyBr is a leading Internet café and this acquisition will solidify our leadership in the industry. We want to invest in other ‘mom and pop’ i-cafés to help them upgrade their infrastructure based on CyBr’s expertise,” said IP E-Games CEO Enrique Gonzales in a statement.

“Expect big things to come in the next few months. We are extremely pleased with our collaboration with CyBr and we plan to share the best practices with our i-café partners across the Philippines,” Gonzales said.

CyBr is the most prominent brand of Internet cafés in the Philippines focused on servicing the online gaming community. Services offered are computer renting, printing and photocopying, and network  and online gaming.

Beginning operations in 2001 as a sole proprietorship, it was incorporated in 2005 and is currently one of the largest and fastest-growing networks of Internet cafés in the country with 18 company-owned and five franchised branches.

All CyBr branches are located at commercial malls and shopping centers in Luzon. Each branch, furnished with up-to-date computer equipment, has an average number of 30 workstations.

“We are looking forward to having a profitable partnership with E-Games,” Webworx president Jerry Co said.

Network-wide, CyBr serves about 190,000 to 205,000 customers per month. The execution of the agreement gives IP E-Games a total of about 160 Internet cafés to date.—Paolo G. Montecillo