Philippines telco Globe has signed an exclusivity agreement with Singapore’s ST Telemedia Global Data Centres (STT GDC) to expand Globe's data centre business in the Philippines.
Globe, through its wholly-owned subsidiary Innove Communications, has been operating data centres since 2001, and has since expanded its portfolio nationwide. Globe believes a partnership with STT GDC is the next important step that will operator to create a top tier data centre business accelerate the company’s growth strategy and market share.
The transaction is expected to take the form of a joint venture, in which Globe will remain a significant shareholder.
"The Philippines is strategically positioned to capture the booming global demand for data centres," said Ernest L. Cu, President and CEO of Globe. "Our potential joint venture with STT GDC will be a significant multi-year growth driver for Globe and will further drive our transformation into a digital platform, this time into B2B space, after success of B2C with GCash."
