Technology

Pampanga’s Dennis Uy to spend P33B for Converge ICT’s nationwide expansion

Fiber internet company Converge ICT Solutions Inc. is allocating P33 billion to accelerate its nationwide fiber network rollout in the next two years.

Funding for the expansion will largely come from the firm’s planned initial public offering, estimated to raise as much as P35.9 billion.

Converge has commissioned a new 400G metro backbone, which utilizes industry-leading optical solutions from a US-based networking systems, services, and software company. This will allow the company to easily scale to higher capacity 800G wavelengths for a more seamless user experience.

Leveraging ASON technology, the network is capable of automatically routing traffic to multiple available paths during fiber breaks, a feature that traditional DWDM technology cannot provide as it’s limited to switching of traffic from main path to only one protection path.

“This network expansion gives us the confidence that we can deliver on our commitment to foster simple, fast, and reliable connectivity for both existing and potential customers,” said Dennis Anthony Uy, founder and CEO of Converge.

The company believes that it is well-positioned to substantially complete its primary nationwide backbone loop, which will connect Luzon, Visayas, and Mindanao, by the end of 2021.

Its IPO is targeted to start in October. Bank of the Philippine Islands, BDO Unibank Inc., Morgan Stanley and UBS Group AG have been tapped to handle the share sale.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.