Alaska team management expressed its appreciation to Converge ICT Solutions for its interest in acquiring its PBA franchise.
Former Alaska owner Wilfred Uytengsu was delighted that one of the top telecommunication service providers in the country is coming in to take over the franchise.
"We are pleased that the new owners of our storied franchise are industry leaders, and are grateful to Mr. Dennis Uy and Converge for ensuring that the Alaska Aces team will get to continue in this new direction under his stewardship," said Uytengsu in a statement.
Upon its takeover of Alaska, Converge vowed to honor contracts of players that go beyond this season, and the current coaching staff are to be considered for evaluation.
Uytengsu vouched for the integrity Alaska had established in the entirety of its stay in the league.
"We have a great staff and a competitive team, and with this development, we are assured that they will continue to be given the opportunity to shine in the PBA," he said.
"We wish Converge all the best to continue our winning tradition."
Alaska last month announced it was leaving the league after 35 seasons that saw the Aces become one of the winningest clubs.
Converge later took over and acquired the franchise.
The value of the franchise was estimated at P150 million, a massive recoup for Uytengsu, who bought the franchise in the mid-1980s, a time when it was worth less than P1 million.