Globe Telecom, Inc. has officially completed the acquisition of US-based cloud managed services provider Cascadeo, the Ayala-led telecommunications company said on Friday.
“The collaboration between the two tech-driven companies started back in 2019, with a purchase agreement signed earlier this year. Now, the partnership has fully transitioned, with Globe making major investments in the leading cloud managed services provider,” Globe said in an e-mailed statement.
The two companies have been working closely “to help enterprises remain competitive” amid a pandemic crisis, Globe added.
The listed telco announced in April that it had entered into an agreement to acquire for $4 million (P200 million) substantially all of the assets of Cascadeo Corp. and Cascadeo Partners. The purpose of the agreement is to speed up the development of the company’s ICT capabilities and solutions and provide a full suite of cloud-native products and services to its customers, Globe said.
Cascadeo was founded in 2006 and focuses on automation, cloud-native platform, data analytics, serverless infrastructure, and programmatic security.
The company, headquartered in Seattle, Washington, also provides professional consulting services.
Cascadeo also operates a Cloud Operations Center of Excellence in Manila, which serves its customers in both the US and the Philippines.
“During the quarantine, many companies had a difficult time adapting to the sudden shift to online services due to their reliance on outdated IT infrastructure and operations,” Jared Reimer, founder of Cascadeo, was quoted as saying in the statement.
“Our partnership with Globe allows us to showcase in the Philippines that the cloud is more than just a virtual storage space. It’s an enabler of innovation, maintaining system uptime, and scaling digital resources to meet demand in whatever capacity,” explained He added that Cascadeo also continues to expand in North America. — Arjay L. Balinbin