A foreign private equity firm has infused $50 million into Integreon Philippines, an Ayala-led outsourcing outfit, to help the latter expand its operations.

In a press briefing yesterday, Integreon President Erik Tabuena said the United Kingdom-based Actis would get two seats on the board of Integreon as a result of the investment.

“We are going to pursue expansion plans and part of the investment would go to a planned second site here in the Philippines. It [will] fund our growth initiatives and fuel market growth,” said Mr. Tabuena.

Integreon is planning to double its work force of 200 here in the Philippines and 2,000 around the world, he said. A new Integreon building will be built in Metro Manila, Mr. Tabuena said. Read more...

By E. N. J. David (www.bworldonline.com)