To actualize the Company's goals, IP incorporated two subsidiaries in 2005, namely, IP Converge Data Center to focus on information technology & telecommunications initiatives, and IP E-Game Ventures Inc. to pursue its online computer games business. In August 2006, IP added another subsidiary, IP Contact Center Outsourcing (IPCCO), to pursue business process outsourcing (BPO) initiatives. At the start of 2008, IP acquired three more companies namely, Prolexic Technologies, Inc., Interactive Teleservices Corp., and Megamobile, Inc. (MMI). In 2009, IP sold off majority stakes in its BPO businesses and in MMI.
On November 17, 2008, in line with the on-going reorganization of the Company, the Board of IP approved the establishment of a wholly-owned private limited corporation in Singapore, subsequently incorporated under the name BPO Holding Company (BPOH), for the purpose of holding all of the Company's investments in voice BPO companies. In view of the foregoing, on November 17, 2008, the Board and shareholders of IPCCO approved the transfer of all IPCCO's property and equipment, intangible assets and employees to BPO Teleservices, Inc. (BPOT), which is a subsidiary of BPOH. In addition, IPCCO's investment in an associate will be transferred to BPOH.
Subsequently, on January 15, 2009, IPCCO entered into a deed of absolute sale with BPOT to sell, assign, transfer and convey, absolutely and unconditionally the aforementioned assets.
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