After nine years of being collectively owned by the country’s top conglomerates, online marketplace-turned-service provider Bayantrade has decided to be acquired by one of its original founders – PLDT.

PLDT, through its technology arm ePLDT, purchased the tech firm on April 1 at an undisclosed price. The acquisition came two months ahead of the ninth anniversary of Bayantrade on June 19.

Bayantrade was launched nine years ago by the country’s six largest business conglomerates – Aboitiz & Company, Ayala Corp., Benpres Holdings, JG Summit Holdings, PLDT, and United Laboratories.

It started out as an online marketplace where the six conglomerates where supposed to procure their supplies. But, as the dotcom euphoria subsided, it gradually transformed itself into a technology provider for sourcing and supply management, technology-enabled business solutions, outsourced operational and business applications support, and education.

In a statement, ePLDT CEO and president Ray Espinosa said Bayantrade’s expertise in supply chain management and technology-enabled business solutions will fit in the overall strategy of ePLDT. 

“[It] will enable us to offer end-to-end ICT solutions to enterprise clients in the Philippine, regional, and world markets,” said Espinosa. 

In February last year, Bayantrade expanded its operations by opening offices in Singapore, Indonesia, and Malaysia by acquiring IT firms based on those countries. Locally, it has offices in Taguig, Makati, Cebu, and Davao.

Dante Briones, president and CEO of Bayantrade, said in a statement: “With a strong parent company to back us up, we are more confident in taking on greater opportunities to become an international organization known for delivering only the best-in-class services to the world.”