The Market Monitor Minding the Nation's Business
Ayala Corp. unit LiveIt Investments Limited (LiveIt) has divested its 58.71 percent share in Integreon Managed Solutions Inc. (Integreon Inc.), a global provider of legal support, research and business services to law firms, financial institutions and corporations.
Integreon Inc. is a BVI business company limited by shares, through a business combination transaction with Anchorage Merger Sub Ltd., another BVI business company limited by shares owned by IGL Services Ltd, where Integreon, Inc. is the surviving entity.
IGL Services Ltd. is a wholly owned subsidiary of private equity funds managed by NewQuest Capital Partners (NewQuest), a leading private equity secondary market platform in Asia.
LiveIt’s other investments in the BPO industry will be retained namely HRMall, which provides strategic value for Ayala Corp’s HR requirements, and Affinity X, a global leader in advertising and marketing production services.
Affinity X plans to strengthen further its business as it considers a bolt-in acquisition in the digital space.
Meanwhile, Ayala Corp. is also expanding its investment in education to contribute to the development of human capital in the country. Ayala Education Inc. (AEI) was established to provide quality education to improve employability for its graduates.
To date, AEI has built APEC (Affordable Private Education Centers) Schools, a chain of private high schools that has scaled to 27 branches and over 10,300 students in the past 3 years, and acquired a majority stake in University of Nueva Caceres, a leading university in the Bicol region that has grown to 7,700 students.
It also seeks to invest in other leading higher education institutions around the country.