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Converge ICT

Converge ICT
Company typePublic
PSE: CNVRG
IndustryCommunications services
FoundedAngeles City, Philippines
(October 17, 2007; 17 years ago (2007-10-17))
Founder
Headquarters
Reliance IT Building, 99 E. Rodriguez Jr. Ave, Ugong, Pasig, Metro Manila
,
Philippines
Area served
Philippines, Singapore
Key people
  • Dennis Anthony Uy
    (CEO and Executive Director) [1]
  • Maria Grace Y. Uy
    (President, Chief Risk Officer, Chief Resource Officer, and Executive Director) [1]
  • Jesus C. Romero
    (Chief Operating Officer) [1]
ProductsCable television
IPTV services
Broadband services
Brands
  • Air Cable
  • Air Internet
  • Converge FiberX
  • Converge Vision
  • Converge Business
  • Surf2Sawa Prepaid Fiber
  • BidaFiber
RevenueIncrease ₱35.36 billion (FY 2023)[2]
Increase ₱12.12 billion (FY 2023)[2]
Owner
  • Comclark Network and Technology Corp. (66.02%)[2]
  • Public (33.91%)[2]
Number of employees
3,379 (2023)[2]
Subsidiaries
  • Converge ICT Solutions Global Ltd.
  • Converge ICT Singapore Pte. Ltd.
  • Telstra Converge Inc.
    (Joint venture with Telstra)
  • Asia Netcom Philippines
    (Joint venture with ANPC)
ASN
Websitewww.convergeict.com

Converge ICT Solutions Inc., doing business as Converge (also known as ComClark in Pampanga), is a telecommunication service provider in the Philippines. It operates fiber optic broadband networks, Internet Protocol television (marketed as Converge Vision; in partnership with Pacific Kabelnet), cable television (marketed as Air Cable), and cable Internet (marketed as Air Internet) in the country. It had 1,969,663 FiberX subscribers as of June 2023 capturing 54% of the market share of fiber to the home in the country.[3] As of 2022, the Converge fiber backbone reached 600,000 kilometers, passing through 495 cities and municipalities across the country.

History

Converge was established in 1996 as the ComClark Network and Technology Corp. by Dennis Anthony Uy in 1996 at Angeles City.[4]

In 2009, the Congress of the Philippines enacted Republic Act No. 9707, to grant Converge ICT Solutions Inc. the franchise to construct, install, establish, operate, and maintain a telecommunication system throughout the Philippines.[5]

In 2020, Converge ICT Solutions Inc. debuted in the Philippine Stock Exchange through an initial public offering.[6]

In 2021, Uy told local media that a deal “is on” with Satellite Internet provider Starlink.[7]

Demand for services surged during the pandemic, with an estimated 84% jump in revenue during the first quarter of the 2021 fiscal year.[8]

In 2021, the company also partnered with the Department of Trade and Industry (DTI) and local governments to provide free fiber-powered internet and tents at Diskwento Caravan.[9]

In October 2021, Converge ICT completed the domestic subsea cable project, with ₱6 billion investment cost.[10]

In July 2024, Converge ICT announced that their subsidiary Reliance Broadcasting had been granted a license by the National Telecommunications Commission to broadcast free-to-air TV networks via satellite television in the country. They announced plans to launch the service with KT SAT, a subsidiary of KT Corporation, with an eye towards serving rural areas.[11]

Service areas

Converge ICT serves fiber optic Internet access in Metro Manila, Calabarzon, Central Luzon and several parts of the Bicol and Ilocos regions,[12][13] and continues to expand its coverage across the country.

Converge ICT competes with PLDT and Globe Telecom as providers of fiber-to-the-home broadband Internet, in their respective areas of coverage. As of March 2022, it has around 1.8 million subscribers, all of whom are in Luzon, Visayas, and Mindanao.[14]

Affiliate companies

See also

References

  1. ^ a b c "Board of Directors, Senior Management, and Adviser". Converge ICT Corporate Site. May 6, 2023. Retrieved May 6, 2023.
  2. ^ a b c d e "Converge FY2023 17-A Annual Report" (PDF). Converge ICT Solutions Inc. Retrieved May 10, 2024.
  3. ^ Camus, Miguel R. (August 29, 2020). "Converge ICT H1 profit jumps 50%". Retrieved November 27, 2020.
  4. ^ Manabat, Ashley (November 24, 2020). "From VHS tapes to fiber optic business: Emerging telco magnate Dennis H. Uy bags entrepreneur award". BusinessMirror. Retrieved March 20, 2022.
  5. ^ "Republic Act No. 9707". www.officialgazette.gov.ph. Archived from the original on July 28, 2020. Retrieved March 25, 2019.
  6. ^ Cigaral, Ian Nicolas (October 1, 2020). "PSE clears Converge ICT's stock market debut". Philippine Star. Retrieved October 10, 2020.
  7. ^ "Starlink to launch in country with one of the world's worst internet connections". The Independent. March 22, 2021. Retrieved April 6, 2021.
  8. ^ Muslimin, Anis Shakirah Mohd. "Billionaire Couple Debut In Top Ten As Demand For Their Company's Broadband Services Explodes". Forbes. Retrieved September 10, 2021.
  9. ^ "Converge partners with DTI and LGUs in Bicol". The Manila Times. September 11, 2021. Retrieved September 10, 2021.
  10. ^ "CNVRG 3Q2021 Briefing Presentation" (PDF). Converge ICT. November 11, 2021. Archived (PDF) from the original on November 12, 2021.
  11. ^ "Converge affiliate Reliance Broadcasting goes nationwide with satellite TV tech". ABS-CBN News. July 9, 2024. Retrieved July 10, 2024.
  12. ^ "Converge ICT vows early completion of fiber-optic cable installation in Cavite". Manila Bulletin. Archived from the original on August 15, 2019. Retrieved August 15, 2019.
  13. ^ Olandres, Abe (August 18, 2017). "Cavite-wide Fiber Optic Network signed with Converge". YugaTech | Philippines Tech News & Reviews. Retrieved August 15, 2019.
  14. ^ "Converge ICT says 9-month revenue growth up 67 pct following stock exchange debut". October 30, 2020. Retrieved November 27, 2020.
Quelle: https://en.wikipedia.org/wiki/Converge_ICT