Now Corporation

Now Corporation (shortly known as Now Corp) is a Filipino conglomerate firm based in Makati, Philippines. The company's core businesses are centralized in the information and communications technology sector, including broadband internet and fiber-optic communication services (Now Telecom), information technology, digital media (NowPlanet.tv), management services and cybersecurity among others.[1]

Now Corporation
TypePublic
PSE: NOW
IndustryConglomerate
Predecessor
  • MF Schroder & Co., Inc. (1996–2002)
  • Cashrounds, Inc. (2002–2006)
  • Information Capital Technology Ventures, Inc. (2006–2013)
Founded5 June 1996 (1996-06-05)
Headquarters5/F OPL Bldg., 100 C. Palanca St., Legaspi Village,
Makati, Metro Manila
,
Philippines
Key people
  • Dr. Thomas G. Aquino (Chairman)
  • Mel V. Velarde (President and CEO)
Services
Revenue₱220.76 million (2019)
₱15.71 million (2019)
₱10.88 million (2019)
Total assets₱2.18 billion (2019)
Total equity₱1.64 billion (2019)
SubsidiariesSee below
Websitewww.now-corp.com

History

The company was founded on June 5, 1996 as MF Schroder & Co., Inc., initially offered security services. The company was renamed as Cashrounds, Inc. in 2002, and entered into initial public offering on the Philippine Stock Exchange.

Mel Velarde, a former executive of Central CATV, Inc. and president/CEO of Next Mobile Incorporated (NMI), acquired Cashrounds in 2005 in exchange of purchasing a partial stake in NMI.[2] The following year, Cashrounds changed its corporate name to Information Capital Technology Ventures, Inc. (ICTV).[3][4]

ICTV began initializing its business venture with Asian Institute of Journalism and Communication (AIJC), an educational institute also owned by Velarde.

In 2013, ICTV was officially renamed as Now Corporation (Now Corp), named after its primary businesses such as NowPlanet and Now Telecom.[5]

In 2019, Now Corp inked a joint partnership with South Korean telecommunications firm SK Telecom for the rollout of Now Telecom's 5G broadband services and becoming the 4th major telecommunications player in the Philippines.[6][7]

On December 1, 2020, Now Corp inked a joint partnership with Finnish multinational telecommunication Nokia for the roll out of Now Telecom's 5G broadband services.[8]

List of assets

Now Telecom

Now Telecom is Now Corporation's main business asset. It is a telecommunications company providing wireless broadband services, cellular mobile telephony system (CMTS), and fiber optic transmission. In 2020, the National Telecommunications Commission (NTC) granted Now Telecom a provisional authority to operate as the fourth major telecommunications provider in the Philippines.[9][10][11]

NowPlanet.tv

NowPlanet.tv is a digital media platform engaging in livestreaming of various digital channels. It is also the livestreaming provider of the Metropolitan Manila Development Authority for its traffic monitoring data centers.[12]

Subsidiaries
  • Holy Cow Animation
  • iProfessional Search Network
  • iResource Consulting International
  • Porteon SEA, Inc.
  • Softrigger Interactive
  • Softweb Consulting

Affiliates
  • Asian Institute of Journalism and Communication
  • News and Entertainment Network Corporation (NEWSNET)
  • Now Cable (f/k/a GHT Network, Inc.)

Corporate governance

Ownership
Shareholder/s[1] % of stake
Velarde, Inc. 27.12%
Top Mega Enterprises, Ltd. 18.87%
Public stock 18.25%
Emerald Investments, Inc. 15%
Gamboa Holdings, Inc. 12.05%
Joyce Link Holdings Ltd. 4.77%
Foodcamp Industries & Marketing, Inc. 3.94%

References
  1. "Public Ownership Report as of September 30, 2020". Retrieved 6 January 2021.
  2. "Next Mobile shareholder acquires two-thirds stake in publicly-listed Cashrounds". The Philippine Star. 22 March 2005.
  3. "Cashrounds changes name, hikes capital stock to P1.3B". The Philippine Star. 23 September 2006.
  4. "ICTV plans transfer to the PSE's Second Board". GMA News. 4 December 2008.
  5. "Now poised to revitalize operations". Philippine Daily Inquirer. 24 January 2015.
  6. "Now partners with leading Korean telco SK Telecom for 5G pivot". Manila Bulletin. 30 October 2019.
  7. "Now Corp teams up with Seoul's SK Telecom for rollout of 5G tech". Business Mirror. 29 October 2019.
  8. "NOW Group and Nokia Sign 5G MOU for Philippine Market". Now Corporation. December 1, 2020. Retrieved December 2, 2020.
  9. Gonzales, Catherine (21 September 2020). "NOW Telecom gets provisional extension to operate as '4th telco'". Philippine Daily Inquirer.
  10. "NOW Telecom gets provisional authority extension". YugaTech. 21 September 2020.
  11. "NOW Telecom eyes public listing, 5G rollout as NTC grants provisional authority to '4th telco'". ABS-CBN News. 21 September 2020.
  12. "Tolentino Launches MMDA Traffic Mirror". Business Mirror. 20 May 2013.
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