Leading IT technology integrator Micro-D International Inc. and subsidiary Novare Technologies Inc. plan to go public within four to five years after sealing a multi-billion investment with Japanese private equity firm Advance Partners.
“We’ve always run ourselves as if we were a public company. We are working with Advantage Partners to see whether there is a four-year year horizon [for IPO] or sooner than that. For this deal, I felt it was important to invite international investors only because that would give us a better understanding and flavor of the different markets that we want to serve,” MDI chairperson Myla Villanueva said in a virtual briefing Wednesday.
AP Head of Asia Emmet Thomas said the private equity firm looked into MDI and was glad to offer capital and technology support to the Philippine tech firm. “MDI is a very dynamic company with strong growth prospects. We see the opportunity in them to continue to succeed and advance further. We hope this will be the first of many investments in the Philippines for us,” he said.