Globe to Acquire U.S.-Based Cloud Company for P203 Million
Globe is upping its game in cloud technology as the telco giant announced its agreement to acquire “substantially all of the assets” of U.S.-based cloud company Cascadeo Corporation and Cascadeo Partners for $4 million (P203 million).
The deal is expected to be closed within the next few months. The acquisition aims to help along with Globe’s expansion in the field of ICT while ensuring its digital future. With Cascadeo, Globe hopes to expand its offerings to business customers, such as a complete suite of cloud-native products and services.
“We will be leveraging on Cascadeo's Cloud-Native Consulting and Managed Services capabilities to further solidify our credibility as a cloud solutions provider for enterprises and small and medium business customers who are ready to digitally transform,” said Globe president and CEO Ernest Cu.
Considering the number of companies transitioning to digital platforms due to enhanced community quarantine, cloud-based tech is growing in demand, making Globe’s deal a timely one.
Cascadeo has headquarters in Seattle, Washington, with an office in Manila. The company was founded in 2006 and is one of only a handful of elite Amazing Web Services Premier Consulting Partners. Cascadeo specializes in automation, cloud-native platforms, data analytics, server-less infrastructure, and programmatic security.