Globe Telecom and NCS Complete Joint Venture to Accelerate APAC Expansion
Globe Telecom and NCS Complete Transformational Joint Venture, Marking Major Expansion in APAC Digital and AI Services
Key Highlights for Investors
- Globe Telecom and Singapore-based NCS (a Singtel Group subsidiary) have closed a landmark joint venture, impacting ownership and future market strategy.
- Globe retains 49% and NCS holds 51% in Yondu Inc., which will be renamed NCS Philippines after the acquisition of NCSI Philippines, Inc.
- The joint venture creates an advanced ICT platform for Globe, leveraging NCS’ APAC scale and expertise in digital, cloud, data, and AI services.
- Immediate scaling of workforce and service capabilities, with the combined Philippines workforce exceeding 1,200 professionals.
- Expected improvements in capital efficiency, sustainable revenue growth, and long-term shareholder value.
- Potential expansion of Globe’s customer base and service footprint across Asia Pacific.
- Globe’s market capitalization stands at US\$3.6 billion as of October 2025.
Detailed Analysis
Joint Venture Structure and Strategic Rationale
Globe Telecom, Inc. (PSE: GLO) and NCS Pte. Ltd. (a Singtel Group technology services leader) have officially closed their joint venture agreement, first announced in March 2025. Under this structure, Globe retains a 49% stake while NCS holds 51% in Yondu Inc. (now to be renamed NCS Philippines). Critical to the agreement is Yondu’s acquisition of NCSI Philippines, Inc. (NCSI PH) from NCSI, making NCSI PH a wholly owned subsidiary of Yondu. This move immediately rebrands Yondu as NCS Philippines, consolidating technology expertise and expanding regional reach.
Strategic Impact: Enhanced Market and Technology Capabilities
The joint venture is a major step in Globe’s regional strategy and digital transformation ambitions. By leveraging NCS’ regional scale, advanced digital solutions, and access to a vast partner ecosystem, the new entity is poised to address mounting demand for next-generation ICT solutions—particularly in telecommunications, digital, cloud, data, and artificial intelligence (AI).
Globe President and CEO Carl Raymond R. Cruz emphasized that the joint venture creates a robust platform for accelerated APAC expansion, enabling Globe to deliver world-class ICT services and deepen its customer base. The partnership lays the groundwork for sustainable growth, offers new doors across Asia Pacific, and aims to benefit local enterprises and regional markets.
Workforce and Operational Synergies
With the closing of this transaction, the workforce in the Philippines will scale to over 1,200 professionals. This expansion immediately boosts delivery capacity and gives regional and international clients access to deep expertise in digital, cloud, data, and AI. NCS CEO Ng Kuo Pin underscored that the Philippines’ talent pool will be instrumental in driving AI-led transformation, with opportunities for local teams to take on regional roles and participate in high-impact APAC projects.
According to Rey Untal, Country Managing Director of NCS Philippines, the expanded entity offers significant career progression for Philippine-based professionals, aligning with a broader vision for digital transformation and client value across the region.
Financial and Shareholder Implications
The joint venture is positioned as a financially significant event for Globe, expected to bolster capital efficiency and support sustainable revenue growth. Chief Finance Officer Carlo Puno noted that the partnership establishes a fiscally resilient platform, which enhances Globe’s flexibility to invest in next-generation ICT solutions and deliver long-term value to shareholders.
Given Globe’s listing on the Philippine Stock Exchange (market cap US\$3.6 billion as of October 2025) and its back-to-back inclusion in the Fortune Southeast Asia 500 (2024 and 2025), this development reinforces Globe’s reputation as a regional leader and innovator. The company’s major shareholders include Ayala Corporation and Singtel, both prominent industry players.
About the Parties
- Globe Telecom, Inc.: Leading digital platform in the Philippines, spanning telecommunications, fintech, venture building, shared services, and digital marketing. Recognized for sustainability and growth, with UN Global Compact participation and SBTi-approved targets.
- Yondu Inc. (to be NCS Philippines): Longstanding IT solutions provider, expertise in custom software, managed security, eCommerce, cloud, and platform solutions. Trusted across various industries in the Philippines.
- NCS Pte. Ltd.: A Singtel Group subsidiary, leading technology services provider across APAC, specializing in digital, cloud, data, applications, engineering, and cybersecurity, with a workforce of over 14,000.
Implications for Shareholders
- This joint venture is highly price sensitive for Globe Telecom shareholders. The expanded technology platform, increased scale, and access to NCS’ innovation network are poised to accelerate Globe’s revenue and market share in APAC.
- Investors should closely monitor execution risks and synergy realization, but the deal signals a significant strengthening of Globe’s competitive position and regional ambitions.
- Potential for increased shareholder value arises from improved capital efficiency, new growth vectors, and an enhanced client portfolio across the region.
For further information or investor inquiries, contact Jose Mari S. Fajardo, Senior Director, Investor Relations, Globe Telecom, Inc. ([email protected]).
Disclaimer: The above article is for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties, and actual outcomes may differ materially. Investors are advised to conduct their own due diligence and consult with professional advisors before making investment decisions.
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