Monday, July 15, 2024

US-based tech firm invests more than P1B in PH operations

Global technology solutions firm SID Global Solutions (SIDGS) said it is investing more than $20 million (about P1.71 billion) in the Philippines as part of its plans to establish the country as its Asia Pacific Digital Engineering and Delivery Hub.

Venkat Madipadaga, founder and chairman of SIDGS who visited the Philippines to announce the investment, said the outlay will focus on establishing SIDGS digital engineering and delivery hubs in different locations in the Philippines with Manila being its main headquarters.

“The Philippines is fast emerging as a major center for a young, tech-savvy population driving digital adoption in the dynamic Asia Pacific region. Many companies in banking and finance, insurance, healthcare, and retail are embarking on digital transformation journeys, and we see the Philippines as a key player,” Madipadaga said.

“These factors, along with the country’s strategic location in Southeast Asia and the increasing quality of digital engineers, make the Philippines the ideal location for SIDGS to expand its footprint and serve the growing digital needs of the region,” he added.

SIDGS said its strategic investment aligns with its company mission to transform how people live and work with a blend of innovation and the transformational power of cutting-edge technology.

“We want our expansion to the Philippines and the rest of Asia Pacific to be part of our legacy, while we continue working towards our vision of helping companies realize their digital transformation objectives and providing better digital experiences to their customers and end-users,” the executive further said.

In investing in the Philippines, the executive added that the company is “not just investing in technology; we’re investing in people, the future of the nation.”

He added: “We’re unleashing the transformative power of Industry 4.0, Cybersecurity, AI, machine learning, blockchain, IoT, RPA, Data Analytics, App Modernization and cloud computing to create a business landscape that’s not just efficient, it’s transformative. Not just convenient, it’s inclusive.

“This is our promise our vision for the future of business to the Philippines. A landscape where every Philippines business has the tools, the access, and the unwavering confidence for Filipinos to thrive in the digital age.”

SIDGS said it has helped more than 250 Fortune companies from various industries and public sector customers globally with their digital transformation initiatives.

Headquartered in Exton, Pennsylvania, the company said it has operations in India, United Arab Emirates, the UK, Singapore, and the Philippines.

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