iPeople, inc. (PSE:IPO) is the holding company under House of Investments, Inc. (PSE:HI) and the Yuchengco Group of Companies that drives investments in the education sector. Formerly known as Petrofields Exploration and Development Co., Inc., the Company was incorporated on July 27, 1989 by Benguet Corporation to engage in petroleum and mineral exploration, development, and production and operated as such until 1997. Under HI, the Company changed its name, primary purpose and focused its investments in education.
IPO wholly owns and operates Malayan Education System, Inc., which operates under the name of Mapúa University. Mapúa University has its main campus in Intramuros, Manila and an extension campus in Buendia, Makati.
Mapúa University also has three wholly-owned operating schools, the Malayan Colleges Laguna, Inc. (A Mapúa School), Malayan Colleges Mindanao (A Mapúa School), Inc. and the Malayan High School of Science, Inc.
Malayan Colleges Laguna is located in Cabuyao, Laguna and was established to extend the Mapúa brand to the south by offering programs in engineering, computer science, information technology, business, accountancy, and hotel and restaurant management. Malayan Colleges Mindanao is located in Davao and started school operations on July 2, 2018. Malayan High School of Sciences is a Science- and Math-oriented high school located in Pandacan, Manila and is modeled after similar but publicly funded-science high schools.
On May 2, 2019, IPO completed its merger with AC Education, Inc., a subsidiary of Ayala Corporation (PSE:AC). With the merger and with IPO as the surviving entity, HI and its affiliates will have 51.3% ownership of the Company, and AC having 33.5% ownership. As a result of this strategic partnership, IPO will become one of the leading education groups in the country, with almost 60,000 students.
The merger brings together the 7 educational institutions of iPeople and AC Education, which together will offer quality education to students across all income segments, with campuses in Metro Manila, Calabarzon, the Bicol Region, and Mindanao.
Other than the aforementioned subsidiaries under the Mapúa Group, IPO has brought into its fold the following AC Education schools : University of Nueva Caceres, one of the oldest and largest universities in Bicol, National Teachers College, the country’s pioneer private teachers’ training tertiary education institution, and APEC Schools, the largest chain of private stand-alone high schools in the country.
IPO will build on Mapua’s expertise as one of the top STEM (Science, Technology, Engineering and Mathematics) schools in the country, and AC Education’s track record in delivering affordable career-focused courses. The Company will leverage on the schools’ combined strengths in STEM, Outcomes Based Education (OBE), distance learning and cost effective EdTech.