Mar 03, 2022 | Posted by MadalineDunn
The Ayala Group, with its telco arm Globe Telecom, has entered a partnership with ST Telemedia Global Data Centers (STT GCD), to construct and operate data center projects in the Philippines. The $350-million joint venture partnership will see STT GDC and the Ayala Group subscribe to new shares in KarmanEdge, Inc., a 100% owned subsidiary of Globe which will house the data center business. Moreover, through the deal, according to the companies, both Globe and Ayala will gain involvement with the world's largest data center operators, which has shares their environmental, social, and governance goals.
Reflecting on the deal and what it means for the company, Globe Telecom said: "This deal also allows Globe and Ayala to partner with one of the world's largest data center operators and, importantly, a partner that also aligns with its environmental, social and governance aspirations. Today, more than 43 percent of STT GDC's data centers are operating with power derived from renewable sources, with an ambitious 2030 carbon-neutral target for all its data centers."
Ernest Cu, Globe President and Chief Executive Officer, commented that the Philippines is an "underserved market" with huge demand for data center services. He added: "Together with STT GDC's deep expertise and experience in developing, owning and operating data centres globally and AC's significant business reach, relationships in the country and in the region, we believe that this Joint Venture will be well-positioned to become the leader in the data centre space in the Philippines. Our partnership with STT GDC and AC will be a step forward in our ambition to transform the country's digital infrastructure by building and operating the most energy efficient and connectivity-rich data centres in the country."
Bruno Lopez, President & Group CEO, ST Telemedia Global Data Centres commented: "We are thrilled to partner with Globe as we expand our global data centre platform into the Philippines, further bolstering our strong presence within Asia. With Globe's well-established digital solutions platform and our data centre expertise, we are confident that through our partnership, we can build a leading data centre platform in the country. This venture will enhance our offerings to support enterprises as they grow their digital infrastructure in the Philippines and the wider APAC region."
The transaction is scheduled to close in the first quarter of 2022.
