MANILA, Philippines — Broadband service provider Converge ICT Solutions Inc. would have access to a new subsea cable system across the Pacific Ocean that would help the company increase internet speeds and expand its network. In a disclosure to the stock exchange on Wednesday, Converge announced the signing of a "binding term sheet" with a subsidiary of Keppel Telecommunications & Transportation, which is developing the upcoming Bifrost Cable System together with Facebook and Telekomunikasi Indonesia. In addition, Converge and Keppel would also jointly develop a branch on Bifrost that will land in Davao City, a mega project that would cost P5 billion. With its services currently limited to the main island of Luzon, Converge is constructing a "national backbone" to cover the entire archipelago. That massive infrastructure will, in turn, allow Converge to distribute the additional bandwidth from Bifrost to any point in the Philippines from Davao, Uy explained.

Source: Philippine Star April 21, 2021 05:03 UTC