Paxys Inc. announces that on 13 September 2012, the corporate ownership structure for joint venture of Paxys and Simpro Solutions has been completed. The company that will carry out the BPO business in the Philippines is Simpro Solutions Philippines, Inc. ("Simpro Philippines").
Simpro Philippines is wholly-owned by Simpro Solutions Limited ("SSL"), a limited liability company incorporated in Hong Kong. In turn, SSL is ultimately owned 50/50 by Paxys, Inc. and Simpro Solutions, Inc.
The maximum amount that has been approved by the Paxys Board for investment in this joint venture is US$250,000. This is less than 1% of the net worth of Paxys, Inc.
Paxys holds its 50% equity in SSL through Paxys Limited, a wholly-owned subsidiary incorporated in Hong Kong. Paxys completed the acquisition of the entire share capital of Paxys Limited on 13 September 2012.
About Simpro
Simpro Solutions, Inc. is a Canadian BPO company engaged in contact center and back office outsourcing activities. Paxys and Simpro have signed a joint venture agreement for the purpose of conducting BPO operations in the Philippines. - https://www.affordablecebu.com/
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"Paxys Inc. update on joint venture with Simpro Solutions Inc." was written by Mary under the Business category. It has been read 1887 times and generated 0 comments. The article was created on 14 September 2012 and updated on 14 September 2012.
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