By Arra B. Francia, Reporter

CIRTEK HOLDINGS Philippines Corp. (CHPC) is looking to grow revenues of United States-based antenna firm Quintel to $500 million in the next three to five years. 

“Objective is to grow into a $500-million revenue company three to five years down the road, and then we will compliment it with one or two more strategic acquisitions in order to bring it into a half-a-billion-dollar revenue company,” CHPC Vice-Chairman and President Roberto Juanchito T. Dispo told reporters in a media roundtable discussion with Quintel officials in Makati on Wednesday.

CHPC’s newly acquired firm is expected to bring in bulk of its revenues during this period, as it captures a bigger share of the US antenna market where it already serves two major telco players, namely AT&T and Verizon.

“The existing market share now is 10% now for AT&T and Verizon, respectively… The 20% market share from where we are right now can easily be done in one or two years, that’s how confident we are,” Mr. Dispo said, noting that they will be increasing sales by 20-40% year on year with the introduction of new products and more innovations to existing products. 

CHPC acquired Quintel last July as part of efforts to further expand its footprint in the antenna market, which is expected to grow into a $14-billion industry by 2020.

Once Quintel reaches its revenue target of $500 million, Mr. Dispo said they are looking to list the company in the Nasdaq Stock Market.

“The listing of course, it’s in the horizon. It’s in the business plan. The important thing is how to be able to grow the top-line of the company from where it is now. Next year we’ll probably do $200 million for Quintel. Target is to grow into $500 million. That’s a perfect size for revenue in order to access Nasdaq listing but we will not stop there,” Mr. Dispo said. 

Asked for other future acquisitions, the executive said the company remains to be in the lookout for companies that can complement their product offerings. For instance, they have already invested in CloudMondo, a start-up firm in Silicon Valley that looks to implement a global, high-bandwidth Wi-Fi network.

“Also looking to investing in AI, artificial intelligence. We believe that it’s a growth area that we should be capitalizing on moving forward as an independent model, and also a business model that can complement antennas…we are envisioning that, that antenna can already do data analytics, client profiling, and even predicting buying behavior of a subscriber of AT&T and Verizon,” Mr. Dispo said.

On the other hand, CHCP will also be holding talks with the Department of Information and Communication Technology, Department of Energy, and local telco players such as Globe Telecom, Inc. this Friday to provide support in improving connectivity in the country.

“We will be having meeting with Globe , high-level technical people to be able to share this technology to the local operator here and then there’s another meeting that’s being arranged with the PLDT, [Inc.] and the Smart [Communications, Inc.] people,” Mr. Dispo said.

Shares in CHCP rose 70 centavos or 1.6% to P44.50 at the Philippine Stock Exchange on Wednesday.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls.

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