LISTED internet service provider Converge ICT Solutions, Inc. on Monday said it is currently exploring latest satellite technologies to improve its services.
“The latest satellite technologies, including that of Space Exploration Technologies Corp. (SpaceX), are among those new technologies being explored by Converge to bring high-speed broadband to far-flung areas in the country,” Converge said in a statement.
The company issued the statement to clarify news reports that it was in talks with SpaceX for a partnership on broadband satellite services.
“Converge wishes to clarify that the company is always looking for new technologies to bring high-speed internet services to the broadest number of Filipinos,” it said.
“However, it is still very premature to talk about a possible partnership between Converge and SpaceX at this stage as suggested in the… news reports,” it added.
Converge is targeting to reach over 15 million or 55% of Philippine households by 2025.
The company recorded 6.1 million homes passed, as of December 2020, accounting for 25% of total households in the Philippines.
It recently reported an attributable net income of P2.19 billion for the first nine months of 2020, up 57.63% from P1.39 billion it earned in the same period in 2019.
Converge ICT shares closed 4.40% higher at P18.52 apiece on Monday. — Arjay L. Balinbin