Philippine Long Distance Telephone Company (PLDT) on August 7 acquired 10% of Germany’s biggest and richest Internet incubator and investor Rocket Internet, joining Qatar’s Ooredoo which has entered a partnership with the Germans just a few months ago.

PLDT, which will pay $445mn in the deal, said it plans to jointly develop online and mobile payments systems and technology for emerging markets.

Together with Ooredoo, Rocket Internet in April this year launched Asia Internet Holding, a joint-venture between the Germans and the Qataris with $410mn to spend on regional startups in 15 emerging economies in Asia and Asia-Pacific, among them the Philippines, Thailand, Myanmar, Malaysia, Singapore, Indonesia, Vietnam, Pakistan, as well as Australia.