Fiber internet and broadband services provider Converge ICT Solutions Inc. is set to spend as much as P33 billion for the remainder of this year and the next, primarily for its expansion plans.
In an emailed statement, the company said it has commissioned an "innovative and flexible" high-capacity backbone from a US-based networking systems, services, and software company.
The company said it believes it is "well-positioned" to substantially complete its primary nationwide backbone loops which will connect Luzon, Visayas, and Mindanao by 2021.
"[Converge ICT] currently expects to incur capital expenditures of approximately P33 billion for the further development and expansion of its national backbone, provincial backbone, and last-mile connectivity for the remainder of 2020 and 2021," the statement read.
According to the company, its new 400G metro backbone will bring about a "more seamless" user experience, as it is capable of automatically routing traffic to multiple available paths during fiber breaks.
The deployment will give ICT a set up of connections that will prepare the company for scaling to higher capacity 800G wavelengths to support future growth.
"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 Pampanga-based Converge ICT founder and chief executive officer Dennis Anthony Uy.
The company earlier this month filed for regulatory approval for its planned P35.9-billion initial public offering (IPO).
Should this push through, Converge would be only the second company to go public this year after Edgar "Injap" Sia's MerryMart Consumer Corp. — BM, GMA News