PLDT pours $5M into California-based Matrixx Software
MANILA, Philippines — Philippine Long Distance Telephone Company (PLDT), through its investment arm PLDT Capital, has invested $5 million to acquire a minority stake of roughly 4% in California-based Matrixx Software.
Through the agreement, PLDT subsidiary Smart Communications, Incorporated is also deploying Matrixx’s real-time integrated infrastructure for the digital service businesses.
PLDT said its partnership with Matrixx will "enable Smart to deliver lifestyle services and content that can be bought and customized individually."
Through Matrixx, the Manuel V. Pangilinan-led telco said its Smart customers will have the freedom to manage their mobile account usage and spend, customize services, and choose "sachet-size" packages based on their preferences and budgets.
"In order for PLDT to play the game and provide better competition, we needed something like Matrixx," Winston Damarillo, PLDT chief strategy advisor and PLDT Capital co-managing director, said in a video conference in Makati City on Wednesday, March 30.
"Our customer is now going beyond dial tone, meaning SMS and voice, as we completely be a digital service provider," Damarillo added.
Matrixx provides a real-time digital commerce platform for creating and monetizing content and services.
Damarillo said PLDT chose Matrixx because it needed a real-time, customer-centric platform that could jumpstart its entry into the digital market without a lengthy IT project.
"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 said in a separate statement.
Last month, PLDT Capital infused an additional $20 million into Israel-based marketing and loyalty platforms provider AppCard.
In 2015, PLDT Capital spent $5 million for its partnership with AppCard and $10 million in US-based mobile app developer Phunware.
The PLDT group has nearly 70 million wireless subscribers. – Rappler.com