News and developments in the community.

Wednesday, February 27, 2008

IPVG Acquires Prolexic Technologies and MegaMobile

I just got word that publicly-listed IT company IPVG Corp. (PSE: IP), who is also a club member, completed the acquisition of Prolexic Technologies Inc., a United States-based managed security service provider of distributed denial of service (DDOS) mitigation solutions. The acquisition represents IPVG’s roadmap of growing the company in key areas in the IP domain and global market. IPVG now offers a unique DDoS protection value proposition for customers of all industries, worldwide.

IPVG has also entered into a Stock Purchase Agreement with the shareholders of MegaMobile, Inc., a local mobile technology provider and content developer.

IPVG has agreed to acquire 70% of the outstanding capital stock of MegaMobile for a total acquisition cost of P6.4M. IPVG plans to augment this investment further by infusing additional capital of an undisclosed amount to strengthen MegaMobile’s content pipeline, marketing programs and infrastructure. The acquisition is still subject to legal and financial due diligence on MegaMobile and for approval by IPVG’s Board of Directors.

MegaMobile represents IPVG’s fifth investment (through acquisition and signed binding agreement) in a span of only one year following: Globalstride Holdings, Inc. (call center facilities in the Philippines); IP-Converge Pte Ltd. (Singapore based IDC); Prolexic Technologies, Inc. (internet security provider with operations in the US, EMEA and Asia) and Interactive Teleservices Corporation (a US-based contact center with facilities in the US, Panama and the Philippines). From its corporate headquarters in the Philippines, IPVG has established presence in Singapore, Hong Kong, Vietnam, India, Panama, United Kingdom and USA.