Canadian tech firm eyes up to $10-M PH investment

MANILA, Philippines – Ontario-based software firm OpenText plans to invest $8 million to $10 million in the Philippines as part of a broader pipeline of Canadian IT and digital services projects discussed during President Marcos’ Canada visit.

The proposed investment will fund a five-year cloud transformation project with BDO Unibank Inc. while supporting OpenText’s expansion in the country, according to the Department of Trade and Industry (DTI).

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Apart from this project, OpenText also expressed support for the Philippine government’s digitalization efforts through artificial intelligence-enabled citizen services, cybersecurity, secure cloud infrastructure, digital records modernization and digital forensics.

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“OpenText’s plans align with our national agenda to build a robust, secure digital economy. From AI-driven public services to critical banking infrastructure, this expansion shows how we work closely with global tech leaders,” Trade Secretary Cristina Roque said in a statement.

The planned expansion comes less than two years after OpenText opened its first global innovation center in the Philippines, one of the company’s largest global delivery hubs. The facility houses a global response center capable of assessing more than 300 billion cyber threats a month.

Currently, OpenText employs about 1,300 professionals in the Philippines, where it provides software development, implementation, customer support, managed services, enterprise information management, cybersecurity and cloud solutions.

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Its Philippine operations also serve clients across the Asia-Pacific region and other international markets.

OpenText’s expansion forms part of $130.89 million (P8.03 billion) in potential investments and financing for the Philippines’ IT-BPM and digital services sectors, according to the DTI.

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These investment plans were discussed during a roundtable attended by BlackBerry, CGI, Everise, IntouchCX, Manulife, OpenText, Sun Life, Telus and NQX, companies the DTI said collectively have a market capitalization of about $160.5 billion.

In addition, DTI further noted the proposed investments span information technology, customer experience, cybersecurity, enterprise software, financial services and global capability operations.

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“We are no longer just a back-office destination; we are a strategic partner for global enterprises that need skilled talent, reliable operations, a rapidly evolving AI landscape, strong AI adoption, an AI-enabled workforce, and future-ready digital capabilities,” Roque said. /pai INQ