Uys of Converge, ABS-CBN’s Sky enter into strategic alliance

ABS-CBN Corp.’s Sky Cable and broadband giant Converge ICT Solutions announced on Monday a strategic business deal that will bolster revenues, efficiency and improve Sky’s financial health. 

This was revealed through a joint statement by Converge, founded and led by Internet tycoons Dennis Anthony Uy and Maria Grace Uy, and ABS-CBN, led by CEO Carlo Katigbak and chair Mark Lopez.

“This will be a revenue boost for Converge consistent with similar arrangements with other players as we are able to continue to monetize further our excess network capacity,” Grace Uy said in the statement. 

The deal was concluded just before the weekend, which was reported by InsiderPH.  

“We believe that this is the best way to move forward and stay focused on delivering superior customer experience,”  Katigbak said. 

Aside from the network upgrade, the Sky transformation program involves increased operational efficiency, greater financial discipline, and organizational improvements, the statement showed. 

“As everyone knows, the first business that I built on my own was in cable television and with the increasing availability of fiber technology in the early 2000s outside the Philippines, my wife Grace and I decided to enter the fixed broadband business,” Dennis Uy said. 

“So, I’m really excited that we are able to help Sky, the leader in the cable business, in its own transformation program by providing them the latest optical fiber technology,” he added. 

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