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http://www.hoovers.com/free/co/news/detail.xhtml?COID=126272&ArticleID=NR20041110670.2_4df5000c7c307be7&SourceType=NEWSAyala Corp. unloads 60% interest in IT company
November 9, 2004 9:35pm
Asia Intelligence Wire
Michigan-based information technology firm the CyberNET Group has taken over the operations of the former AyalaPort Makati, Inc. after buying a 60% stake from Ayala Corp. units Azalea Technology Investments, Inc. and ALINET.com
Following the acquisition of the controlling stake, AyalaPort was renamed CNG Philippines Global Data Hub, Inc, and the Ayala Group is now left with a 30% stake in the company.
The remaining 10%, meanwhile, is owned by other partners.
"CNG now has controlling interest in the company. It has control of the partnership. Ayala sits on the board but has shied away from managing the company," Reynaldo P. Huergas, managing director of CNG Global, said.
Mr. Huergas declined to reveal how much CNG invested in the former AyalaPort, saying as a private company, CNG could not divulge such information. He said the new company which was formed from the partnership of the Ayala group and CNG will expand its products and services.
"This partnership will provide data center support to the company's growing worldwide business operations and will strengthen its presence in the Asia-Pacific region," he said.
He said CNG Global can use CNG's network to outsource services in countries outside the Philippines. "The resulting company will be able to offer significantly enhanced, end-to-end solutions, by providing the resources to offer world class data center services. In addition, CNG's expertise and service officerings will greatly benefit AyalaPort's local client base."
He said there is a market for the services CNG offers because prospective clients are looking for ways to make their IT resources more efficient at the same time save on costs.
The resulting company, Mr. Huergas said, will be providing business process outsourcing and IT outsourcing services, specifically, managed services, assessment, professional and software services.
Mr. Huergas said that CNG chose to partner with the former AyalaPort after looking at other companies in other countries in the region.
He said this was because the facility of AyalaPort is at par, or surpasses, the facilities found in some areas in the US.
He added that CNG plans to make the Philippines the base for its Asia- Pacific operations. CNG, he said, is looking at expanding in other countries in Southeast Asia, including Thailand, Malaysia, and Singapore "when opportunities arise."
AyalaPort operated as a data housing service center before CNG came in the company.
CNG provides IT outsourcing services and business process outsourcing services to varied companies throughout the world and across a wide range of industries. Its services include application migration and data hosting services and multilingual help desks.
Copyright © 2004 BusinessWorld (Philippines). Source: Financial Times Information Limited - Asia Intelligence Wire.
Hoover's Fact Sheet:
CyberNET Group
25 South Division Ave.
Grand Rapids, MI 49503 (Map)
Phone: 616-913-9000
Fax: 616-913-2888
http://www.cybernet-usa.com Covered by David Hamerly
CyberNET provides information technology services that include data center and storage management, security, and recovery services.
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2003 Employees 400
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