(Manila, Philippines, April 28, 2010) – TeamAsia, an award-winning strategic marketing communications firm based in the Philippines, announced today that it is acquiring Outsource2Philippines (O2P), a firm that provides advisory services to the business process outsourcing (BPO) industry. The BPO industry is an important employment generator of jobs in the Philippines, and is expected to reach US$12 billion in revenues in 2010.
"We've identified a number of exciting opportunities for O2P that we will describe more fully in the coming months," said TeamAsia managing director Michael Alan Hamlin in explaining the acquisition. "The outsourcing industry is evolving rapidly, and as it does, the kinds of support services it requires are likewise changing. The industry is learning to outsource business processes that are not within its core process expertise. That's where we see tremendous opportunity for O2P," Hamlin said.
Outsource2Philippines was founded in 2004 by Frank Holz, an industry veteran with many years of experience as a Partner of Andersen Consulting (now Accenture). Holz will remain connected with O2P as a consultant, assisting BPO companies as they deal with issues associated with rapid growth. Among other activities, O2P worked with the Philippine Software Industry Association (PSIA) to develop an industry roadmap ("Fly High 2010").
The company collaborates with the Business Processing Association of the Philippines (BPA/P) to conduct quarterly surveys of the BPO industry that have resulted in highly-reputed periodic CEO briefings. According to Hamlin, O2P will continue to work closely with BPA/P to assess industry sentiment and provide a forum for regularly discussing industry developments. "Feedback from the industry as well as the high level of participation in these activities indicates that industry executives appreciate the insights the CEO briefings provide," he said.
BPA/P Executive Director for Research Gillian Joyce G. Virata oversees her organization's partnership with O2P and said, "We value the relationship with O2P and look forward to continuing our collaboration. Of course, we also work closely with TeamAsia on a number of key initiatives—such as the International Outsourcing Summit—and they have also sponsored and produced our quarterly briefings. We anticipate a seamless transition."
Hamlin said TeamAsia expects to complete the acquisition in 30 to 60 days. He said the company may consider taking on new strategic shareholders with deep domain expertise in the BPO industry.
Outsource2Philippines (O2P) provides a cost-effective, timely mechanism for companies to receive professional support in analyzing the suitability of outsourcing selected operations to the Philippines, and in implementing outsourcing programs. For more information, visit www.outsource2philippines.com.
TeamAsia is an award-winning strategic marketing communications firm that develops place, corporate, and personal brand strategies, creative concepts, and marketing communications programs and campaigns incorporating events, public relations, and Web 2.0 tools for its clients. Its core businesses include design services; public relations, editorial, copywriting, and SEO services; media relations; event management; online campaign management; and web development. The agency also offers workshops and seminars primarily related to its core communications businesses.