Xurpas buys STORM (Malaya)

February 27, 2015 | News

Consumer technology firm Xurpas Inc. has signed a deal with Storm Flex Systems, Inc. for a 51 percent controlling stake at a cost of $4.3 million.

Storm has developed a proprietary platform which allows employees of any company that has signed with Storm to exchange their current employee benefits and transform them into a wide range of products and services — such as gadgets and dining, a private carpool system, doctor consultations on demand, all the way to donations for charitable causes. With the power of choice, employees are happier and more productive, while employers get substantial gains in their ability to attract, retain, and excite people.

The firm’s flex benefits system is currently used by some of the country’s leading local conglomerates, business process outsourcing and fast moving consumer goods ompanies both in Manila, and recently, in Metro Cebu.  Since inception, Storm has demonstrated truly exponential growth, with revenue increasing five-fold from 2013 to 2014.

Xurpas and Storm completed the sale yesterday. Money raised for the transaction would be used by Storm to further accelerate its already impressive growth locally, and branch out to other markets in Southeast Asia.

This article was originally published in Malaya Business Insight.


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