{"id":332021,"date":"2025-03-28T00:27:04","date_gmt":"2025-03-27T16:27:04","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332021"},"modified":"2025-03-28T00:27:09","modified_gmt":"2025-03-27T16:27:09","slug":"trade-the-news-cnvrg-says-starlink-partnership-may-boost-enterprise-revenue-by-up-to-10","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-cnvrg-says-starlink-partnership-may-boost-enterprise-revenue-by-up-to-10\/","title":{"rendered":"Trade the News: CNVRG says Starlink partnership may boost enterprise revenue by up to 10%"},"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 24.85<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

CONVERGE ICT SOLUTIONS, Inc. said it projects a 5%\u201310% increase in enterprise revenue through its collaboration with Elon Musk\u2019s Starlink.<\/p>\n\n\n\n

On Tuesday, the listed fiber-optic network operator announced its partnership with Starlink to extend broadband access to remote areas, strengthening enterprise connectivity nationwide.<\/p>\n\n\n\n

\u201cFor the enterprise business, that is where we will see the impact [of this collaboration]. This is how we will serve our clients. This will improve our revenue side easily by 5\u201310%,\u201d Converge Chief Executive Officer Dennis Anthony H. Uy told reporters.<\/p>\n\n\n\n

\u201cThe agreement we started signals the turning point of the enterprise business, which will be able to serve many more enterprises within the satellite solution,\u201d Mr. Uy said.<\/p>\n\n\n\n

Converge is among the few companies in the country authorized to resell Starlink services, Mr. Uy said, adding that the company targets to resell approximately $4 million worth of Starlink kits.<\/p>\n\n\n\n

Starlink, a satellite internet service of Space Exploration Technologies Corp. (SpaceX), continues to expand its satellite network to provide high-speed broadband to rural and remote areas, according to its website.<\/p>\n\n\n\n

As an authorized reseller, Converge now offers end-to-end turnkey solutions, including installation, network management, monitoring, and maintenance.<\/p>\n\n\n\n

\u201cConverge already has a formidable fiber network across the country. But we believe that by beefing up our satellite-powered connectivity solutions, we can charge full speed ahead in expanding our Global Business portfolio. This collaboration with Starlink is a key pillar to this aspiration,\u201d said Sherie Ng, managing director of Converge Singapore, the company\u2019s wholly owned unit.<\/p>\n\n\n\n

With Starlink\u2019s high-bandwidth, low-latency connectivity, Converge will now serve industries requiring reliable and resilient internet, including construction, mining, agriculture, retail, and hospitality, in remote areas.<\/p>\n\n\n\n

For this year, Converge expects revenue growth of up to 16% after posting a P10.8-billion net income in 2024.<\/p>\n\n\n\n

(News Source: Business World<\/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\n\n\n

<\/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-332021","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\/332021","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=332021"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332021\/revisions"}],"predecessor-version":[{"id":332023,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332021\/revisions\/332023"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}