{"id":329871,"date":"2024-10-13T23:48:46","date_gmt":"2024-10-13T15:48:46","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329871"},"modified":"2024-10-13T23:48:50","modified_gmt":"2024-10-13T15:48:50","slug":"trade-the-news-cnvrg-taps-nasdaq-listed-firm-as-fiber-supplier","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-cnvrg-taps-nasdaq-listed-firm-as-fiber-supplier\/","title":{"rendered":"Trade the News: CNVRG taps Nasdaq-listed firm as fiber supplier"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Converge ICT Solutions Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>CNVRG<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 18.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Converge ICT Solutions Inc. (CNVRG) has tapped a Nasdaq-listed manufacturer to become its supplier of fiber lines for its subsea cable and expansion projects.<\/p>\n\n\n\n

Converge yesterday announced that it has selected Infinera Corp. as its vendor for the submarine line terminal equipment (SLTE) of the Philippine branch of the Bifrost Cable System.<\/p>\n\n\n\n

Converge also tapped Infinera as its new partner for the upgrade of its terrestrial assets across the Philippines, confirming that the provider is planning to set up additional fiber.<\/p>\n\n\n\n

Converge CEO and co-founder Dennis Anthony Uy said the operator picked Infinera based on its track record in subsea networking.<\/p>\n\n\n\n

By teaming up with Infinera, Converge hopes that it can build its part in Bifrost at the lowest cost over the longest distances.<\/p>\n\n\n\n

Once the SLTE is deployed, Converge will benefit from the high-speed optics and new solutions offered by Infinera.<\/p>\n\n\n\n

Uy trusts that Infinera would improve both the terrestrial and subsea reach of Converge, allowing the internet service provider to grow its subscribers more.<\/p>\n\n\n\n

\u201cLeveraging Infinera\u2019s innovative solution, Converge will be able to effectively scale up to meet rapidly growing bandwidth demands across the Philippines and the entire Asia and the Pacific,\u201d Uy said.<\/p>\n\n\n\n

Converge entered into an agreement with Keppel Midgard Holdings Pte. Ltd. in 2021 to take part in Bifrost, with the company investing at least P5 billion to become a party.<\/p>\n\n\n\n

Bifrost will span more than 15,000 kilometers, extending between the American West Coast and Singapore through Guam, also reaching Indonesia, the Philippines and Singapore.<\/p>\n\n\n\n

Bifrost comes with a design capacity of 15 terabits per second each way, and it is scheduled to be completed within the year.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329871","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329871"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329871\/revisions"}],"predecessor-version":[{"id":329873,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329871\/revisions\/329873"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}