Converge ICT earmarks $250M investment to nationwide expansion

(L-R) Converge ICT COO Jesus C. Romero, Converge ICT President & CEO Dennis H. Anthony Uy, Maria Grace Y. Uy, U.S. Ambassador to the Philippines Sung Y. Kim, DICT Secretary Gregorio Honasan, and Warburg Pincus LLC Managing Director Saurabh Agarwal

Converge ICT, the country’s premier pure end to end fiber internet service provider, received a multi-million-dollar investment from Warburg Pincus, a private equity firm based in the United States.

Converge ICT has been aggressively expanding its fiber infrastructure with the aim of providing Filipinos access to the more reliable fiber internet connection. The $250 million or P12.8 billion investment will be earmarked on rolling out more fiber connections nationwide.

"Since going full throttle with our fiber network roll-out and package offerings, the change in overall Philippine performance has been noticeable," said Dennis Uy, founder and president, Converge ICT. "In 2018, the average connection has risen to 18Mbps. We don't take full credit but the company’s contributions have been undeniable."

This is the Warburg Pincus' first investment in the Philippines. One of the world's biggest equity firms has $20 billion invested in Asia and about $65 billion in assets under management.

"We are excited about the country’s young, digital-savvy population and its thriving services industries, which have created an outsized need for connectivity and will create explosive growth in the broadband space," said Saurabh Agarwal, managing director, Warburg Pincus. "Converge ICT is a remarkable business and growth story and I am confident that it will continue to achieve significant growth milestones and solve the ever-increasing connectivity needs of the country."

Converge ICT is looking at capturing 30% of the country's broadband market in the next few years. With this investment, Converge ICT will be able to fastrack the construction of its $1.8-billion nationwide internet backbone. The current rollout includes a $70-million domestic submarine cable with 20 landing stations across the Philippines. The Luzon backbone is expected to be completed by the first quarter of 2020.

"Converge ICT is the only pure end-to-end fiber internet provider in the country with all-in house capabilities," said Uy. "We have been investing heavily on innovations that would move the broadband market forward so we can be on par with our neighbors. We have rolled out 400Gbps per channel in the past."

At present, Converge ICT is looking at doubling its half-a-million subscribers by next year. Seventy percent of the company's customer base are first-time fixed broadband service users and Uy plans to increase that with more expansions in the coming months.

Photo caption 2: (L-R) Converge ICT President & CEO Dennis H. Anthony Uy, Maria Grace Y. Uy, DICT Secretary Gregorio Honasan, and Warburg Pincus LLC Managing Director Saurabh Agarwal

"We are 100% committed to the long-term success of our partners Converge ICT and, more importantly, the success of the Filipino customers whom we serve, and their connectivity needs we seek to provide," said Agarwal.

The choice of Warburg Pincus to stream fresh funds to Converge ICT is due to the former's deep understanding of the business and expertise. Uy reiterated that it is not always about the money but making the Philippines more competitive in the world market by providing more reliable broadband service.

"To bring about real-life change and progress," Uy said. "That is our commitment to the Filipinos. To serve the under-served and unserved. Together, we will use technology to be what it has been set out to be. To make information more readily available, services faster, communities safer and life, in general, better. Convenience on-demand."

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Fun Follows Function: Introducing the all-new Converge Freedom

Now you can choose how you want to enjoy your favorite shows with Converge FREEDOM, Converge ICT Solution’s newest offering. The company intends to revolutionize the way you watch and access content. Powered by their pure fiber internet, Converge FREEDOM is a streaming service designed to access your content at your own pace and convenience. 

“We’re very excited to launch Converge FREEDOM today as we give our valued subscribers the full power over what they watch, when they watch it, and where they watch it,” says Jesus Romero, Converge ICT Chief Operating Officer. “This is the first of the many new offerings we’re introducing this year and we’re starting off with what Filipinos enjoy the most: access to entertainment. You will no longer be limited to watching your favorite programs on your TV. With Converge FREEDOM, you can watch anytime, anywhere in your home with its on-demand functionalities.”

Enjoy maximized convenience with Converge FREEDOM. You can access it from your smartphone and tablet via the FREEDOM app, available for download on App Store and Google Play. Or enjoy it on your TV via the Set-Top Box (STB) which you can purchase with your Converge FREEDOM Subscription plan.


Entertainment at your own pace, at your own place

Converge FREEDOM gives you access to premium channels perfect for whatever passion or interest you may have.

Whether it is movie, music, sports, food, news, or events, you won’t have to worry about missing out on your favorite show. Converge FREEDOM comes with four main features that allow you to enjoy content as you please: Time shift, Playback, Multiview, and Movability.

With Converge FREEDOM’s Time Shift functionality, you can pause, rewind, or fast-forward your content for up to four hours. You’ll never have to wonder what happened on your favorite show too because you can watch previous episodes up to seven days before via Playback.

For subscribers with family members with different interests, Converge FREEDOM’s Multiview feature lets you watch shows simultaneously through different devices. For those without a Set-Top Box, Converge FREEDOM can still be enjoyed in your devices via the FREEDOM app. This allows you to access content wherever you may be within your house.

As a leading provider of fiber internet in the country, Converge FREEDOM runs on pure end-to-end fiber internet. It has a minimal bandwidth consumption of 2 to 2.5Mbps for Smartphones and Tablets and 4.5Mbps for TV Set-Top Box for high-definition content.

Get it for as low as P299 monthly

To start enjoying your own Converge FREEDOM, existing Converge subscribers and businesses may visit https://freedom.convergeict.com/ to subscribe. Non-Converge customers can access Converge FREEDOM by switching to Converge fiber internet first. 

As a treat, Converge ICT is giving its existing subscribers a FREEDOM App 30-day trial period from March 29, 2019 to April 30, 2019.

Converge Freedom Plans are initially available in these areas: Metro Manila (Navotas, Parañaque, Quezon City, Taguig Pateros, Valenzuela, Marikina, Caloocan, Muntinlupa) and North Luzon (Angeles, Mabalacat, Tarlac).

Converge FREEDOM can be enjoyed by Converge FiberX subscribers with Plans 1500, 2500, and 3500; Converge Fiber Xtreme subscribers with Plans 4500 and 7000; Converge Microbiz subscribers with Plans 2000 and 3000; and Converge iBiz subscribers with Plans 9000, 12000, and 15000.

“We hope to upgrade our subscribers’ entertainment experience by maximizing convenience while providing premium content. We’re planning to extend this service to everyone in the country as Converge continues to revolutionize the way Filipinos experience internet and access content,” adds Romero.


Now with Converge FREEDOM, you can enjoy what you want, when you want, where you want.

For more information on Converge FREEDOM, visit freedom.convergeict.com.


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About Converge ICT Solutions

Converge ICT Solutions is the leading fiber internet and digital consumer-centric services provider in the country. Established in Angeles, Pampanga in 2015, it is the first to run a pure end-to-end fiber internet network, providing Filipinos simple, fast, and reliable internet connection. Converge ICT Solutions is ISO and CE2.0 Certified.