• Later that month, IPVG formed a 50/50 equity, joint-venture agreement with GMA New Media, Inc. – the digital media arm of GMA Network, Inc. to create a new subsidiary called I-Play, Inc. Investment in I-Play valued at PhP 800M with an initial capitalization of PhP 200M. The new venture will focus on the designing operating and maintaining casual online gaming and casual online gaming-related portals. 

• In February, IPVG entered into the mobile services market when it acquired 70% of the outstanding capital stock of MegaMobile Inc., valued at PhP 6.4M.

• In March, IPVG announced the 70% acquisition of US-based contact center Influent which has facilities in the US, Panama and the Philippines. The company is a leading contact center specializing in banking, financial services and insurance (BFSI) markets in the US. It has a total of 11 delivery centers with over 1400 seats and ranked among the Top 20 call center companies worldwide according to customer service magazine survey.

•Finally, IPVG, through its gaming subsidiary IP E-Games, closed the quarter with two partnership announcements, namely, 1] ESTsoft, a Korean game developer for the publishing and distribution rights for the highly anticipated massively multiplayer online role playing game (MMORPG), CABAL Online and; 2] GDH K.K., a Japanese media company, through its group company GONZO Rosso K.K. for an online licensing deal to launch the 1^st Japan-made MMORPG - Pandora Saga, in the Philippines. IPVG also expanded into the Vietnam online games market through an investment into Cyberworld.

IPVG’s Q1 2008 Annualized revenues equal PhP 3.31billion (US$78.85M) thereby cementing IPVG as one of the top IT firms in the country. The company has demonstrated 9 consecutive record breaking quarterly numbers and is clearly positioned as a regional company.

To date, IPVG has key points of presence in 8 countries - Philippines, Singapore, Hong Kong, Vietnam, India, Panama, United Kingdom and USA.  

For more information, visit www.ipvg.com

About IPVG

IPVG is publicly listed on the Philippine Stock Exchange (PSE Ticker Symbol: IP) and engaged in the information technology and communications space. It owns three operating subsidiaries in: (i) Information Technology and Telecommunications (IT&T); (ii) on-line gaming, and (iii) Business Process Outsourcing (BPO) with presence in the Philippines, Singapore, Hong Kong, Vietnam, India, Panama, United Kingdom and USA.  

 

For further inquiries, contact:

 

Investor Relations:                                  Corporate Communications:

Antonio Garcia                                         Sheila Rada

IPVG Corp.                                                          IPVG Corp.

Tel – 976 4784                                        Tel – 976 4788

Email – tonio.garcia@ipvg.com                    Email – sheila.rada@ipvg.com

 

PR Agency:

Justine Bonilla

Dominguez Marketing Communications, Inc.

Tel – 897 7088 / 890 3766

Email – justine.bonilla@dominguez.com.ph