ANGELES CITY — Converge ICT Solutions, the country’s fastest growing pure fiber internet provider, may yet still land a professional basketball team in the Philippines as it was reported to be the “frontrunner” in the race to take over the Alaska franchise in the PBA.
While there has been no commitments made, Converge CEO and Co-Founder Dennis Uy said that the Angeles City-based internet service provider is looking into the possibility of buying the team.
“The interest is there and we will make announcements in due time,” Uy answered when asked by this writer during the video conference, Thursday, on the 4th quarter and Year 2021 Results Briefing of the publicly listed firm.
Should PBA and Converge come to terms, he will be joining his namesake and Davao-based businessman whose team Phoenix Fuel Masters was acquired when Barako Bull ended its stint in the league.
Reportedly, there are two other big corporate firms that are also interested to buy the Alaska franchise which is bowing out of the league this season.
With Converge’s possible inclusion in the PBA, it will face corporate rival PLDT with its TnT Tropang Giga team in the leading professional league in the Southeast Asian region.
Converge has grown exponentially for the past few years with fiber coverage all over the country. Its P7.2-billion revenues for 2021 represent more than double its P3.4-billion earnings the previous year.
It traces its roots from Betamax and VHS movie rental store in Angeles City in the 1980s where Dennis and siblings had served as store attendants in the family-owned business. He is now considered as one of the richest Filipinos. Together with wife Grace who serves as Converge’s President and co-founder, they have US$2.8 billion net worth.
