PLDT Capital, the investment arm of Philippine Long Distance Telephone Co., said Wednesday it invested $5 million in a California-based provider of real-time, integrated infrastructure for the business of digital service providers.
“We chose Matrixx Software because its technology and performance is unmatched, and they are able to help drive the PLDT Group’s digital vision more rapidly than anyone else,” PLDT chief strategy advisor and PLDT Capital co-managing director Winston Damarillo said.
Matrixx provides a real-time digital commerce platform for creating and monetizing content and services.
It was the first investment of PLDT Capital in a foreign company this year. Last year, PLDT Capital invested $10 million in Phunware, a US-based mobile devices and application company; $5 million in Singapore’s Paywhere; and $5 million in AppCard.
PLDT Capital allocated an investment budget of $50 million last year to support PLDT business units, including Smart, ePLDT, Digital5 and Voyager to grow their portfolio of digital services in the Philippines and other developing economies
“The PLDT Group continues our model of prestigious companies that are investors as well as customers,” Dave Labuda, founder, chief executive and chief technology of Matrixx Software said.
“It is genuinely changing the game in Asia when it comes to digital service innovation, and we’re excited to help deliver outstanding experiences to customers of its wireless service provider, Smart Communications,” he said.
Matrixx will enable Smart to deliver an array of lifestyle services and content that can be individually purchased and customized.
Smart’s customers will have the freedom to manage their mobile account usage and spend, tailor services and choose ‘sachet-size’ packages based on their preferences and budgets.
Matrixx installed and integrated the solution within weeks, allowing rapid time-to-market for future service propositions that will capture wallet-share and customer loyalty in a dynamic, fast-paced market.
PLDT chairman Manuel Pangilinan earlier said the company would spend less than $50 million this year for acquisitions or investments in other countries.
