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Azalea is comprised of investments in information and communications technology, shared services companies, and business process outsourcing companies held through LiveIt.
2007 Highlights
- Azalea group registered a consolidated net loss of P1.6 B, largely due to non-cash impairment of goodwill related to Affinity Express and noncash amortization of intangible assets related to the acquisition of LiveIt subsidiaries, as well as start-up losses of HRMall and operating losses of LiveIt subsidiaries resulting from expansion costs and the weak U.S. dollar
- LiveIt’s companies eTelecare, Integreon and Affinity Express, recorded strong revenue growth of 33%, 135% and 32%, respectively
- LiveIt increased ownership in eTelecare to 22%, making it the company’s largest shareholder and enabling equity accounting in 2008
- eTelecare , LiveIt’s largest investment, grew its net income by 89% to US$23 million
- eTelecare successfully listed on the NASDAQ and the Philippine Stock Exchange, and acquired the non-voice operations of Time Warner’s AOL
- Integreon expanded its global delivery footprint significantly by acquiring CBF Inc. in the U.S. and building new sites in Manila and Delhi
- Affinity Express launched its Philippine operations to complement its capabilities in India, and won new key customers in the rapidly growing newspaper and Web advertising services sector
- ASTI grew revenues by 110% and turned profitable with a net income of P1.3 M from a loss of P25 M
- HRMall made significant progress as the HR Shared Services Center of the Ayala group, and launched Globe Telecom and Ayala Land HR systems
Strategic Initiatives
- Grow existing businesses organically and through follow-on acquisitions
- Realize the benefits of scale and higher utilization
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Azalea Technology Investments, Inc. |
Unit 309 3F SEDCCO Building
Rada corner Legaspi Streets
Legaspi Village Makati City
1229 Philippines
Tel (632) 813 2386
Fax (632) 813 2414
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