Globe says unit Asticom posted P2 billion in revenues in 2021

MANILA - Globe Telecom's shared service provider Asticom Group of Companies on Wednesday said it posted P2 billion in revenues in 2021 and aims to further expand its portfolio of businesses.

Asticom said that since 2015 its revenues have grown robustly with a compound annual growth rate of 36 percent.

The company aims to expand to support more small and medium enterprises as well as startups in the country, Globe said.

Asticom currently has 4 subsidiaries, namely Asti Business Services Inc (ABSI), Fiber Infrastructure and Network Services Inc, BRAD Warehouse and Logistics Services Inc, and HCX Technology Partners Inc, Globe said.

"We continuously seek ways to pave long-term growth for the group...We also aspire that through realizing these goals, we can support many more Filipino businesses in their growth and improve more Filipino lives," Asticom President and CEO Mharica Castillo-Reyes said in a statement.

When asked if they are considering an initial public offering, Castillo-Reyes said it's part of their 5-year plan.

"That is part of the growth strategy of the Asticom Group of Companies in order for us to continue growing the portfolio of services, again aligned with supporting the overall businesses — the Asticom Group and, of course, the Globe Group of companies," she said.

Asticom's subsidiaries are engaged IT and business solutions, project management support, HR and digital solutions, finance, corporate services and end-to-end engineering solutions.

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