Telecommunications giant Globe Telecom Inc., through its subsidiary GTI Business Holdings Inc., has acquired the assets of US-based Cascadeo Corp. for $4 million. In a disclosure on Friday, Globe said the executive committee of its board of directors approved the acquisition of “substantially all of the assets” of Cascadeo, Cascadeo Partners and Philippine subsidiary Cascadeo Inc. The transaction is part of Globe business’ strategy to further develop its information and communications technology capabilities and solutions and provide its customers with a “complete suite of cloud-native products and services.” “The joint venture with Cascadeo will further strengthen our ability to invent, innovate and experiment,” Globe President and Chief Executive Officer Ernest Cu said.
