Globe to scale up data center capacity
GLOBE Telecom, Inc. is hoping to scale up its data center capacity and capture more of the latent demand for data center services in the country.
Globe is currently in advanced discussions with Singapore-based ST Telemedia Global Data Centres (STT GDC), a data center provider, on the Ayala-led telco鈥檚 data center business in the Philippines.
In a statement, the telco said it believes a partnership with STT GDC 鈥渋s the next important step that will accelerate鈥 its 鈥渄ata center growth strategy and market share position in the Philippines.鈥
鈥淯nder the exclusivity agreement, Globe and STT GDC will enter into discussions and aim to sign definitive agreements鈥 related to the telco鈥檚 data center business, it noted.
鈥淭he intention is to leverage Globe鈥檚 existing portfolio, as well as the expertise of STT to be able to get immediate scale and increase Globe鈥檚 speed to market.鈥
Ernest L. Cu, Globe president and chief executive officer, believes that the potential joint venture with STT GDC will be a significant multi-year growth driver for Globe.
鈥淸It] will further drive our transformation into a digital platform, this time into B2B (business-to-business) space, after success of B2C (business to customer) with GCash,鈥 he added.
The telco has been operating data centers since 2001, serving both its internal requirements and corporate clients.
As of September this year, the telco鈥檚 attributable net income increased 12.8% to P17.90 billion from P15.87 billion in the same period in 2020.
Total revenues for the January-to-September period grew 4.1% to P113.55 billion from P109.10 billion in the previous year.
Globe Telecom shares closed 2.37% higher at P3,460 apiece on Tuesday. 鈥 Arjay L. Balinbin
