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Converge pursues partnership with SpaceX to reach far-flung areas

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Converge ICT, a fiber internet provider, said the much-awaited deal with Elon Musk's Space Exploration Technologies Corp. (SpaceX) may happen next year.
Converge pursues partnership with SpaceX to reach far-flung areas
File photo: Converge ICT logo

Converge hopeful about SpaceX partnership

Converge Chief Executive Officer Dennis Anthony Uy said SpaceX is currently focusing on other areas.

SpaceX, he said, is doing works in the "American areas, more in the Caribbean". Pampanga's Uy said SpaceX may touch Southeast Asia "maybe in a year, a year and a half."

Uy admitted the need to have another technology provider to reach more areas across the Philippines.

To be able to complement the whole segment of the market is very important. For those who are not reachable by our network, this is the way. We need to partner with new technology, Uy said.

For this year, Converge targets to cough up PHP 20 billion investment to upgrade and expand its network to the Visayas and Mindanao.

Its net income in the first quarter reached PHP 1.549 billion, almost tripled from PHP 574 million in 2020. Revenues also grew by 84 percent to PHP 5.547 billion against the PHP 3.021 billion a year earlier.

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