MANILA, Philippines -- (UPDATED) Converge ICT Solutions Inc.'s basketball team will officially go by the name "FiberXers" in the PBA.

The franchise announced the name of their team on Tuesday at the Edsa Shangri-La, where they were formally launched after joining the league.

PBA commissioner Willie Marcial welcomed the company into the family, expressing his confidence that they will be a crucial part of the league moving forward.

"Matagal ko na itong gustong sabihin," said Marcial. "Ngayon ko lang masasabi -- welcome to the PBA, Converge."

"Malaking bagay sa PBA at sa Philippine basketball ang Converge," he added. "Sinisigurado ko po, ang Converge ay magiging isang haligi ng Philippine basketball, hindi lang po sa PBA."

• READ: Converge acquires Alaska franchise

The FiberXers will start competing in the PBA in its 47th season, becoming the league's 12th team. Converge ICT Solutions had purchased the franchise of the Alaska Aces late last month, after the storied team announced its exit from the league after over three decades of participation.

Aside from unveiling their name and logo, the team also unveiled the members of their team, led by Jeff Cariaso who was retained as head coach after the sale of the Alaska franchise. Six players are currently under contract: Jeron Teng, Ben Adamos, Bryan Faundo, Rey Publico, Jaycee Marcelino, and rookie Allyn Bulanadi.

Former PBA commissioner Chito Salud will serve as the team governor and their representative to the PBA Board of Governors.

"We challenged the techno giants, and this is the same mindset that we will bring to the PBA," said Dennis Anthony Uy, team owner of Converge.

"Just like our mission to give the best broadband to the Filipinos, we want to give them topnotch basketball entertainment by having the best franchise in the PBA today," he added. "We are excited to commence our journey to building a track record of excellence and sportsmanship, worthy of the respect of PBA fans."