DigiCo, formerly known as Limitless Growth Ventures Inc., has acquired Multipay from Multisys Technologies Corp. for P250 million.
The acquisition will expand the portfolio and capabilities of DigiCo, which is jointly owned by PLDT Inc., Manila Electric Corp. (Meralco), and Metro Pacific Investments Corp., in the digital payments sector.
DigiCo, which is 60 percent owned by PLDT, will leverage its resources and expertise to support Multipay’s growth and explore synergies with its parent companies. Meralco and Metro Pacific each own 20 percent of DigiCo.
The acquisition is set to enhance PLDT’s digital ecosystem by diversifying services, expanding its customer base, and generating new revenue streams. This move aligns with PLDT’s strategic goal of evolving from a traditional telecommunications provider into a leading technology company.
The purchase involves acquiring 903,000 common shares of Multipay at P276.85 per share, totaling P250 million. The valuation of the purchase price is based on Multipay’s business projections and future cash flows, representing 100 percent of its total issued and outstanding capital stock.
Multipay, based in Paranaque City, is known for its e-payment solutions and is expected to benefit from the enhanced innovation and technological resources provided by its new owner.
