Dito CME Holdings Corporation (formerly known as ISM Communications Corporation) is a Filipino conglomerate holding firm. Formed in 1925, the company primarily engages in

telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...

and

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

infrastructure.

History

The early years

Itogon-Suyoc Mines, Inc. was founded in January 1925 as a

mining company This is an incomplete alphabetical list of mining companies. A * Adex Mining * Aditya Birla Group * African Rainbow Minerals * Agnico Eagle * Aiteo * Alumina * Anaconda Copper * Anglo American (mining) * Anglo Platinum * AngloGold Ashanti * ...

. During the 2000s, the company (which subsequently renamed as ISM Communications Corporation in April 2002) began diversified with the investments in different industry sectors such as telecommunications (a stake in Eastern Telecommunications Philippines, later divested in 2011),

gaming Gaming may refer to: Games and sports The act of playing games, as in: * Legalized gambling, playing games of chance for money, often referred to in law as "gaming" * Playing a role-playing game, in which players assume fictional roles * Playin ...

and

hospitality Hospitality is the relationship between a guest and a host, wherein the host receives the guest with some amount of goodwill, including the reception and entertainment of guests, visitors, or strangers. Louis de Jaucourt, Louis, chevalier de J ...

(a 65% stake in Acentic GmbH), and

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

(a 97% stake in

Philippine Bank of Communications The Philippine Bank of Communications, more commonly known as PBCOM (), is a commercial bank in the Philippines. It was founded in 1939. The bank's headquarters, PBCom Tower, located in Makati, is the List of tallest buildings in the Philippin ...

, sold to Lucio Co), before it became a holding company in 2016.

Dennis Uy era

In August 2018, businessman

Dennis Uy Dennis Ang Uy (; born September 26, 1973) is a Filipino businessman and diplomat. Uy is the founder of Udenna Corporation, which has stakes in various businesses including Phoenix Petroleum. Early life and education Dennis Ang Uy was born a ...

bought a 45% controlling stake in ISM, and in March 2020, the firm was renamed as Dito CME Holdings Corporation. In November 2020, Dito CME announced its share swap deal with Uy's Udenna Corporation to indirect owning its stake in telecommunications company and its namesake,

Dito Telecommunity Dito Telecommunity Corporation (stylized as DITO), formerly known as Mindanao Islamic Telephone Company, Inc. or Mislatel is a telecommunications company in the Philippines which is also engaged in the business of multimedia and information tec ...

. As part of a deal, Dito CME will own a 100% stake in Udenna's subsidiary, Udenna CME Holdings Corporation which co-owns (along with another Udenna subsidiary, Chelsea Logistics) one of Dito's parent companies, Dito Holdings Corporation (the other is the Chinese state-owned

China Telecommunications Corporation China Telecommunications Corporation (Chinese: 中国电信集团有限公司), known as its trading name China Telecom, is a Chinese state-owned telecommunication company. It is the largest fixed-line service and the third largest mobile tel ...

). The deal made Udenna Corporation became as a parent company of Dito CME. In June 2021, Dito CME (through its subsidiary, ISM Equities Corporation (now DITO CME Ventures, Inc.)) signed a sales-and-supply agreement with

Samsung Electronics Samsung Electronics Co., Ltd. (, sometimes shortened to SEC and stylized as SΛMSUNG) is a South Korean multinational corporation, multinational electronics corporation headquartered in Yeongtong-gu, Suwon, South Korea. It is the pinnacle of ...

Philippines. In July 2021, Dito CME announced its partnership with

Alibaba Cloud Alibaba Cloud, also known as Aliyun (), is a cloud computing company, a subsidiary of Alibaba Group. Alibaba Cloud provides cloud computing services to online businesses and Alibaba's own e-commerce ecosystem. Its international operations are re ...

to provide cloud computing and storage products for its digital educational platform, Luna Academy. In January 2022, Dito CME dropped the Rights offering of US$156 million for the expansion in Philippines citing the reason of "less than ideal market conditions."

References

{{reflist Holding companies of the Philippines Companies based in Taguig Holding companies established in 1925 Companies listed on the Philippine Stock Exchange 1925 establishments in the Philippines Udenna Corporation