Globe Telecom Inc. said Monday it signed an agreement with ST Telemedia Global Data Centres and Ayala Corp. for the development and construction of data centers in the Philippines. Tap here:
Both STT GDC and AC will subscribe to new shares in KarmanEdge Inc., a 100-percent owned subsidiary of Globe that will house the carved-out data center business.
Globe will receive proceeds of $100 million from the transaction, with the remaining capital injected to be utilized by the business for future expansion and growth. “We are excited about the future of Globe in the data center space. With Globe’s deep understanding of its customers, STT GDC’s technical expertise and Ayala’s compelling business reach, this venture is poised to be a significant player in this space for years to come,” Globe president and chief executive Ernest Cu said.
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