MAKATI CITY, Philippines – The Entertainment Gateway Group (EGG) will keep its core management intact, a Globe Telecom executive told INQUIRER.net Monday after the company's acquisition by Globe was announced.

"Our intention is to keep the core management intact," said Ditas Sta. Maria, head of financial planning and analysis of Globe Telecom, in a telephone interview.

This is the first content provider acquired by Globe Telecom, she added. EGG will become a wholly-owned subsidiary of the mobile network company.

Globe Telecom, a Philippine mobile network company, disclosed that it acquired mobile content company EGG and its affiliates for P351 million from shareholders of both EGG in the Philippines and EGGstreme in Hong Kong.

"The acquisition will [put] EGG on a strong path to growth and position it well for the future," EGG founder and managing partner Melissa Limcaoco, said in a statement sent to INQUIRER.net in reaction to the news.

"This is consistent with what we've been disclosing in the past," Sta. Maria said, as she pointed out that the local company has been eyeing investments in "adjacent spaces," which are defined as complementing services to the company's mobile services.

Sta. Maria said EGG is one of the leading mobile content provider in the Philippines, which can boost the value-added services of Globe.

The Globe executive said the transaction between EGG and Globe was announced on August 1.

"Our acquisition of EGG is in line with Globe's strategy to drive growth through expansion into adjacent spaces, such as mobile content creation and distribution," said Gerardo Ablaza, Jr., president and CEO of Globe Telecom, in the company's disclosure to the Philippine Stock Exchange.

"We believe in the EGG team's ability to deliver a great value-adding mobile experience for our subscribers in the Philippines. We are also excited about the prospects of EGG in the overseas markets, and are looking forward to working with Melissa Limcaoco and the rest of the EGG's management team to further expand the business," the executive said.

Ablaza stressed that this recent acquisition is an investment in "Filipino creativity."