Sky, Converge combine forces
Aside from the network upgrade, the deal will also complement the Sky transformation program that calls for increased operational efficiency
Daily TribuneAside from the network upgrade, the deal will also complement the Sky transformation program that calls for increased operational efficiency
Sky Cable Corp. has entered into a commercial arrangement with fiber broadband provider Converge ICT Solutions Inc. to enable the Lopez family’s broadband business to upgrade its network and improve services.
“Through the arrangement with Converge, we expect Sky and its subscribers to benefit from the world-class fiber network that Converge has built over the last few years,” Sky president and chief operations officer Claudia Suarez said on Monday.
Aside from the network upgrade, the deal will also complement the Sky transformation program that calls for increased operational efficiency, greater financial discipline, and organizational improvements.
To recall, Sky Cable was set to be acquired by PLDT Inc. in a deal valued at P6.75 billion but the transaction was mutually terminated by the parties due to internal issues.
As for Converge, the transaction will bolster its financial reserves by capitalizing on its surplus network capacity.
Revenue driver
“This will be a revenue boost for Converge consistent with similar arrangements with other players as we can continue to monetize further our excess network capacity,” Converge president and co-founder Maria Grace Uy said.
Meanwhile, Converge CEO and co-founder Dennis Anthony Uy said the company will target to replicate this transaction with Sky Cable to other potential partners to augment connectivity nationwide.
“This is all part of the mission of Converge to bring world-class connectivity to all Filipinos and leave no one behind in this digital age,” he said.
Converge has the largest fiber-to-the-home network in the country with over eight million ports and a fiber footprint extending over 700,000 kilometers that reaches 16 million Filipino homes nationwide.
As of the end of March, Converge serves 2.3 million residential broadband subscribers nationwide.