Converge ICT

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Converge ICT
TypePublic
PSE: CNVRG
IndustryCommunications services
FoundedAngeles City, Philippines
(October 17, 2007; 14 years ago (2007-10-17))
Founder
  • Dennis Anthony H. Uy
  • Grace Y. Uy
Headquarters
Reliance IT Building, 99 E. Rodriguez Jr. Ave, Ugong, Pasig, Metro Manila
,
Philippines
Area served
Philippines
Key people
  • Jose Pamintuan De Jesus (Chairman)
  • Dennis Anthony H. Uy (CEO & Executive Director)
  • Grace Y. Uy (President & Chief Resources Officer)
  • Jesus C. Romero (COO)
  • Benjamin Azada (CSO)
  • Ronald Brusola (CTO)
  • Ulysses C. Naguit (CIO)
ProductsCable television
Broadband services
Brands
  • Air Cable
  • Air Internet
  • Converge FiberX Broadband
  • Converge Vision
  • Converge Business
RevenueIncrease PH₱15.65 billion (2020)
Increase PH₱4.88 billion (2020)
Owner
Websitewww.convergeict.com

Converge ICT Solutions Inc., commonly referred to 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 1.58 million FiberX subscribers as of September 2021 capturing 54% of the market share of fiber to the home in the country.[1]

History[]

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.[2]

In 2020, Converge ICT Solutions Inc. debuted in the Philippine Stock Exchange through an initial public offering.[3]

In 2021, Uy told local media that a deal “is on” with Satellite Internet provider Starlink.[4]

Demand for services surged during the pandemic, with an estimated 84% jump in revenue during the first quarter of the 2021 fiscal year.[5]

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.[6]

In October 2021, Converge ICT completed the domestic subsea cable project, with ₱6 billion investment cost.[7]

Service areas[]

Converge ICT serves fiber optic Internet access in Metro Manila, Calabarzon, Central Luzon and several parts of the Bicol and Ilocos regions,[8][9] 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 September 2021, it has around 1.58 million subscribers, all of whom are in Luzon, Visayas, and Mindanao.[10]

References[]

  1. ^ Camus, Miguel R. (August 29, 2020). "Converge ICT H1 profit jumps 50%". Retrieved November 27, 2020.
  2. ^ "Republic Act No. 9707". www.officialgazette.gov.ph.
  3. ^ Cigaral, Ian Nicolas (October 1, 2020). "PSE clears Converge ICT's stock market debut". Philippine Star. Retrieved October 10, 2020.
  4. ^ "Starlink to launch in country with one of the world's worst internet connections". The Independent. March 22, 2021. Retrieved April 6, 2021.
  5. ^ Muslimin, Anis Shakirah Mohd. "Billionaire Couple Debut In Top Ten As Demand For Their Company's Broadband Services Explodes". Forbes. Retrieved September 10, 2021.
  6. ^ "Converge partners with DTI and LGUs in Bicol". The Manila Times. September 11, 2021. Retrieved September 10, 2021.
  7. ^ "CNVRG 3Q2021 Briefing Presentation" (PDF). Converge ICT. November 11, 2021.{{cite web}}: CS1 maint: url-status (link)
  8. ^ "Converge ICT vows early completion of fiber-optic cable installation in Cavite". Manila Bulletin. Retrieved August 15, 2019.
  9. ^ Olandres, Abe (August 18, 2017). "Cavite-wide Fiber Optic Network signed with Converge". YugaTech | Philippines Tech News & Reviews. Retrieved August 15, 2019.
  10. ^ News, ABS-CBN (October 30, 2020). "Converge ICT says 9-month revenue growth up 67 pct following stock exchange debut". Retrieved November 27, 2020.

External links[]

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