Globe (PSE:GLO), a leading digital platform in the Philippines with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare, has signed an exclusivity agreement on the carve-out of Globe’s data center business in the Philippines with Singapore-headquartered ST Telemedia Global Data Centres (STT GDC), one of the fastest-growing data center providers globally (Globe DC). Under the terms of the exclusivity agreement, Globe and STT GDC will embark into discussions with the goal of signing definitive agreements pertaining to Globe DC.
Globe has been running data centers through its wholly-owned subsidiary Innove Communications, Inc. since 2001 and has subsequently grown its portfolio countrywide, servicing both internal needs and corporate clients from diverse industries. Globe data centers are globally competitive, advanced, standard-compliant, and highly secure facilities that provide world-class data, network, telecommunications, and information technology services such as carrier-neutral colocation space, managed security, mission-critical applications, and cloud solutions. The portfolio is projected to expand as Globe continues to expand its reach in anticipation of future high demand requirements. Globe data center buildings have the capacity for mid-term expansion of up to 45MW power. Globe thinks that partnering with STT GDC is the next critical step in accelerating Globe’s data center growth strategy and market share position in the Philippines, allowing them to capitalize on the region’s fundamental growth patterns and produce value for key stakeholders in the long term.
The purchase is expected to be structured as a joint venture, with Globe remaining a significant shareholder. Globe DC’s investment is totally aligned with Globe’s long-term data center business plan of collaborating with a premier data center operator to develop a top-tier data center company in the Philippines and across the region. More importantly, this purchase bolsters Globe’s aspirations to transform into a leading digital solutions group that provides connectivity and solutions to power and allow a thriving digital environment for Filipinos.
“The Philippines is perfectly placed to capitalize on the brisk worldwide demand for data centers.” Our solid track record and vast client reach, along with STT GDC’s deep operational knowledge, position us well to be the Philippines’ top data center company.” Globe’s President and CEO, Ernest L. Cu, made a statement. “Our possible joint venture with STT GDC will thus be a huge multi-year development driver for Globe, driving our transformation into a digital platform, this time into B2B area, following the success of B2C with GCash.”
Discussions about such opportunities are ongoing, and there is no guarantee that they will result in definitive deals. Globe shall make necessary notifications as needed in compliance with the norms of the Philippine Stock Exchange.
Source: Globe Newsroom
Globe (PSE:GLO), a leading digital platform in the Philippines with major interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare, has signed an exclusivity agreement on the carve-out of Globe’s data center business in the Philippines with Singapore-headquartered ST Telemedia Global Data Centres (STT GDC), one of the fastest-growing data center providers globally (Globe DC). Under the terms of the exclusivity agreement, Globe and STT GDC will embark into discussions with the goal of signing definitive agreements pertaining to Globe DC.
Globe has been running data centers through its wholly-owned subsidiary Innove Communications, Inc. since 2001 and has subsequently grown its portfolio countrywide, servicing both internal needs and corporate clients from diverse industries. Globe data centers are globally competitive, advanced, standard-compliant, and highly secure facilities that provide world-class data, network, telecommunications, and information technology services such as carrier-neutral colocation space, managed security, mission-critical applications, and cloud solutions. The portfolio is projected to expand as Globe continues to expand its reach in anticipation of future high demand requirements. Globe data center buildings have the capacity for mid-term expansion of up to 45MW power. Globe thinks that partnering with STT GDC is the next critical step in accelerating Globe’s data center growth strategy and market share position in the Philippines, allowing them to capitalize on the region’s fundamental growth patterns and produce value for key stakeholders in the long term.
The purchase is expected to be structured as a joint venture, with Globe remaining a significant shareholder. Globe DC’s investment is totally aligned with Globe’s long-term data center business plan of collaborating with a premier data center operator to develop a top-tier data center company in the Philippines and across the region. More importantly, this purchase bolsters Globe’s aspirations to transform into a leading digital solutions group that provides connectivity and solutions to power and allow a thriving digital environment for Filipinos.
“The Philippines is perfectly placed to capitalize on the brisk worldwide demand for data centers.” Our solid track record and vast client reach, along with STT GDC’s deep operational knowledge, position us well to be the Philippines’ top data center company.” Globe’s President and CEO, Ernest L. Cu, made a statement. “Our possible joint venture with STT GDC will thus be a huge multi-year development driver for Globe, driving our transformation into a digital platform, this time into B2B area, following the success of B2C with GCash.”
Discussions about such opportunities are ongoing, and there is no guarantee that they will result in definitive deals. Globe shall make necessary notifications as needed in compliance with the norms of the Philippine Stock Exchange.
Source: Globe Newsroom