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Philippines' Smart acquires 80% of Wolfpac
MANILA - Smart Communications Inc, the wireless unit of Philippine Long Distance Telephone Co (PLDT), said it has acquired an 80-percent interest in Wolfpac, a leading Philippine mobile content provider.

"The acquisition is in line with Smart's efforts to maintain its leadership in wireless services," Smart president and chief executive officer Napoleon Nazareno said in a statement. "Integrating the capabilities of the country's leading content and applications developer into Smart enhances our ability to provide a steady supply of innovative services for our customers."

Under the deal, Wolfpac's incumbent management will continue to run the firm. Smart will tap Wolfpac to develop local content and applications, including platform development and serving overseas markets. The acquisition does not, however, preclude Smart from working with other content providers or from developing its own platforms.

Wolfpac has twice been cited by the Global System for Mobile Communications Association (GSMA) as the "Best Wireless Applications Developer". The GSMA is a global association with over 600 cellular carriers and equipment manufacturers.

(AFX)
 
Feb 3, 2004


 
         
         
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