Globe in talks with SG's ST Telemedia to boost data center business

ABS-CBN News

Posted at Nov 16 2021 11:06 AM | Updated as of Nov 16 2021 11:52 AM

MANILA - Globe Telecom on Tuesday said it signed an "exclusivity agreement" with Singapore's ST Telemedia Global Data Centers to discuss a potential joint venture. 

The deal, which aims to sign definitive agreements related to Globe Data Centers, has "great potential" to accelerate growth strategy and market share, the telco said in a disclosure to the stock exchange.

Globe is expected to remain a significant shareholder in the potential JV, the Ayala-led telco said.

"The Philippines is strategically positioned to capture the booming global demand for data centers. Our strong track record and extensive customer reach, together with STT GDC's deep operational expertise, position us well to be a leading data center company in the Philippines," Globe president and CEO Ernest Cu said. 

Globe said its unit Innove Communications Inc has been operating data centers since 2001. Its data center facilities have midterm expansion potential of up to 45MW power, it added.

The portfolio is expected to grow as it expands its footprint in anticipation of the large demand in the future, it said. 

RELATED VIDEO: 

Watch more News on iWantTFC