Diversified firm Phinma Corp. has acquired two business process outsourcing (BPO) firms to expand its investment in the growing “high-value” industry.
In a statement, the company said its board had approved the purchase of an 85-percent interest in Fuld & Co. Inc. (Fuld) for $7.99 million.
Fuld is a business research and consulting firm focusing on business and competitive intelligence. Based in the United States, Fuld has offices in the US, UK and China.
The company likewise approved the purchase of Business Back Office Inc.-Global Business Research Support (BBI) for about P26 million and subscription in new shares for P52 million. BBI is a Manila-based knowledge process outsourcing (KPO) firm.
“The acquisition of both firms will provide growth for Phinma Corp. in the higher value (BPO) spectrum,” the company said in a statement.
“The twin acquisitions of complementary businesses will provide outsourcing jobs and build skills in the field of business research and competitive intelligence, offering globally competitive products and services through a dedicated knowledge process outsourcing center and research engine in the Philippines,” it added.
The company said the operations of Fuld and BBI would be integrated to improve efficiencies and provide better services for a wider range of clients around the world.
Fuld’s operations are organized along industry lines, with industry and sector expertise in consumer products, technology, telecommunications, financial services, business services, healthcare and industrial manufacturing.
Aside from investments in the BPO space, the Phinma group, headed by executive Ramon del Rosario Jr., has interests in real estate, education, energy and financial services.