iPeople, inc. (IPO) is the holding company under House of Investments, Inc. (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, together with HI, wholly owns and operates its main subsidiary, 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 Makati. Mapúa University also has three wholly-owned operating schools, the Malayan Colleges Laguna (A Mapúa School), Inc., Malayan Colleges Mindanao, Inc. and the Malayan High School of Science, Inc.
On May 2, 2019, the Company merged with AC Education, Inc., the wholly-owned education arm of Ayala Corporation, with IPO as the surviving entity. As a result, the Company acquired three additional operating subsidiaries: National Teachers College, University of Nueva Caceres, and Affordable Private Education Center, Inc., which is doing business under the name of APEC Schools.
Timeline
1989
Incorporated as Petrofields Exploration and Development Co., Inc. by Benguet Corporation.
1997
Rebranded as iPeople, Inc. and focused on education under the House of Investments, Inc.
2019
iPeople merged with AC Education, Inc. in 2019, bringing together 7 schools which is the Malayan Education System, Inc. (Mapua University), National Teachers College (NTC),APEC Schools and University of Nueva Caceres (UNC). Mapua University also has three wholly owned subsidiaries, including Malayan Colleges Laguna, Inc. (MCL), Malayan High School of Science, Inc. (MHSS) and Malayan Colleges Mindanao, Inc. (MCM). 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,solidifying its role as a major player in the Philippine education market.
2023
On Sept. 5, 2023, the merger between National Teachers College (NTC) and Affordable Private Education Center Inc. (APEC) took effect. With NTC as the surviving corporation, the merger brings together more than 24,000 students in the K-12, college and graduate school systems. Students will benefit from the combination of NTC’s national reputation ad 94-year track record of excellence in teaching with APEC’s progressive teaching methods and focus on being educators of the digital future.