PH, Canadian BPO firms form joint venture
MANILA, Philippines - Philippines' Paxys Inc and Canadian Simpro Solutions Inc are investing in a business process outsourcing (BPO) joint venture in the Philippines.
In a disclosure to the Philippine Stock Exchange on Friday, September 14, Paxys said they will each invest US$250,000 and will equally hold 50% of Simpro Solutions Limited (SSL), a Hong Kong incorporated firm.
SSL, in turn will completely own Simpro Philippines.
The parties initially signed an agreement to form Simpro Philippines on July 11. Paxys later disclosed that it would "leverage Simpro's presence in Canada for seeking out target clients in the region."
Both parties said they are looking for synergies between the Canadian and Asian markets. "We are pleased to be able to leverage our flexible infrastructure in the Philippines while in the process creating a platform for job creation in the Philippines," said Paxys in a statement in July.
Paxys said on its website that it is trying to reposition itself to "better capitalize on the emerging opportunities in the BPO industry."
Canada represents an opportunity for continued customer growth in its targeted sectors, like health care and cloud services. - Rappler.com