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’s data center business in the Philippines.
In a statement, the telco said it believes a partnership with STT GDC “is the next important step that will accelerate” its “data center growth strategy and market share position in the Philippines.”
“Under the exclusivity agreement, Globe and STT GDC will enter into discussions and aim to sign definitive agreements” related to the telco’s data center business, it noted.
“The intention is to leverage Globe’s existing portfolio, as well as the expertise of STT to be able to get immediate scale and increase Globe’s speed to market.”
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.
“[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,” 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’s 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. — Arjay L. Balinbin
