ePLDT buys majority stake in Level-Up! Philippines

ePLDT buys majority stake in Level-Up! Philippines

Feb 16, 2006
Updated 05:42pm (Mla time)
Erwin Lemuel Oliva eoliva@inq7.net
INQ7.net

ePLDT has decided to buy a majority stake in Philippine game publisher Level-Up! Philippines, an official confirmed with INQ7.net.

"Yes we have bought 60 percent of the company," Ray Espinosa, president and chief executive officer of ePLDT, an information and communications technology arm of the Philippine Long Distance Telephone Co.

Espinosa said that Level-Up! Philippines will be merged with Netgames.

The ePLDT executive declined to disclose the value the buyout but he indicated this was part of the company's strategy to bring more content to its subscribers.

A Level-Up! Philippines source also confirmed the deal but indicated that they are not yet sure what the plans are following the deal.

Level-Up! Philippines is the biggest online game publisher in the country, running the popular Philippine online game Ragnarok.

INQ7.net reported on a joint venture between ePLDT subsidiary Netgames and Level-Up! Philippines last year.

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