Wednesday, January 16, 2008

morph IPO

The software development scene in Cebu, Philippines is getting exciting. Companies are getting truer to following Silicon Valley. Here's one from here:

MANILA, Philippines -- Local software firm Morph Labs is eyeing to raise P500 million in its planned initial public offering next year.

The company announced it has chosen AO Capital Partners as lead investor in its "pre-IPO" stage.

Before the IPO, Morph is looking to raise P65 million, infused by AO Capital and also from US and Japanese investors.

"The P65 million is actually just an initial round. We are actually raising a significantly larger amount for the IPO, " Damarillo said via email.

Things like this present great (read: $$) opportunities to the industry and to the software developers.

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