Globe Telecom buys cloud service provider

Globe Telecom Inc. said Friday it acquired a US-based cloud managed service provider.

Globe said unit GTI Business Holdings Inc. completed the acquisition of the assets of US-based Cascadeo Corp. and Cascadeo Partners and Cascadeo’s Philippine subsidiary Cascadeo Inc. for $4 million, or P200 million.

“Despite facing many challenges this year, we were determined to be recognized as the country’s chief cloud collaborator,” Globe Business senior vice president Peter Maquera said.

“The pandemic only emphasized how critical digitalization is. In order to survive, companies have to respond with transformed ways of thinking and operating. For Globe, the uncertainties the world has faced pushed us to strengthen what we were always known for—being digital. This propelled us to go all-in on our partnership with Cascadeo so we can prepare companies for a future that embraces the Cloud,” he said.

Globe Business, the enterprise arm of Globe, has been working closely with Cascadeo to help enterprises remain competitive amid an evolving digital landscape.