
Over the next two years, CONVERGE ICT Solutions Inc. aims to invest about $60 million in the construction of three data centers.
Converge’s chief executive officer and co-founder, Dennis Anthony Uy, announced that the business intended to construct data centers in Cebu, Quezon City, and Angeles, Pampanga. Converge currently operates data centers in Pasig’s Reliance and Clark..
According to Uy, a single data center costs at least $20 million to build and has a maximum capacity of 1,000 racks per site with 600 racks per site.
Within 18 to 24 months, the new data centers are anticipated to be finished.
Uy added that the company had further reduced its projected capital expenditures (capex) from the previously announced P12 billion to P15 billion to between P9 billion and P10 billion this year.
The business stated that it aims to add 120,000 new prepaid customers this year, up from 28,995 in the first quarter. 1.89 million people were postpaid subscribers.
On Friday, Converge’s stock price dropped by 30 centavos to P9.
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