LISTED Xurpas Inc. is nearing its entry to US technology industry after acquiring Los Angeles-based venture capital management firm, prompting investors to hoard its shares last week. As part of the deal, the general partners of Wavemaker US would also be subscribing to 1.7 billion shares — representing 48-percent stake — in Xurpas. Xurpas shares surged by 13.2 percent to P1.11 apiece on the day the acquisition was announced. Philstocks Financial Inc. research associate Japhet Tantiangco agreed the acquisition indeed give Xurpas shares a boost, noting the results of the investment should be watched out moving forward. On the upside, he stressed the deal would still expose Xurpas to offshore tech firms, in addition to the firm benefiting from knowledge transfer.

Source: Manila Times November 10, 2019 16:05 UTC