Converge says services restored across the country

Converge ICT Solutions Inc. has restored services across the country as of Wednesday morning, following issues in the company's data service.

In a statement sent via mobile message, the internet service provider said all systems were up as of 06:24 a.m. on Wednesday, November 18, 2020.

"Converge ICT is pleased to share with you that service has been restored for residential and enterprise areas across all its service areas," the statement read.

"The company is reviewing the incident to develop solutions that will prevent such occurrences from happening in the future and complement its ongoing improvement initiatives," it added.

At past 1 p.m. on Tuesday, Converge reported service interruptions across the country due to issues in its data center.

Services in north and central Luzon were restored on Tuesday evening.

The company offers broadband internet services to residential and enterprise customers, as well as private data network solutions, cloud and colocation services, and other connectivity solutions to enterprises, on top of add-on products and services such as speed boosts and pay television.

Converge generated P29 billion from its initial public offering (IPO) in October, the same amount it has allocated to spend in the next 18 months to finance its expansion across the country.

In July, it said it would spend P33 billion for the remainder of 2020 and the rest of 2021 for the development and expansion of its national backbone, provincial backbone, and last-mile connectivity. 

Shares in Converge were trading at P15.72 per share as of 10:15 a.m Wednesday, up by 6 centavos or 0.38% from Tuesday's close of P15.66 apiece. — RSJ, GMA News