Premiere Horizon Alliance Corporation (PSE:PHA) agreed to acquire 33% stake in SquidPay Technology Inc. from group of sellers led by Marvin Dela Cruz for approximately PHP 560 million on November 17, 2021. As part of the transaction, Premiere Horizon will acquire 264 million shares. Premiere Horizon will be entitled to three out of the seven Board of Directors' seats in SquidPay and Premiere Horizon and Marvin Dela Cruz shall also jointly nominate the Chairman of the Board, Executive Committee Chairman, President, chief executive officer, chief financial officer and Treasurer of SquidPay. The funding will come from the PHP 625 million subscription payable by the group led by Marvin Dela Cruz in accordance with the Memorandum of Agreement with Premiere Horizon dated October 29, 2020. The transaction is approved by the Board of Directors of Premiere Horizon and execution timeline will be subject to the requisite government regulatory approvals.

Premiere Horizon Alliance Corporation (PSE:PHA) cancelled the acquisition of 33% stake in SquidPay Technology Inc. on October 13, 2022.