{"id":48792,"date":"2025-08-06T21:38:11","date_gmt":"2025-08-06T21:38:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/48792\/"},"modified":"2025-08-06T21:38:11","modified_gmt":"2025-08-06T21:38:11","slug":"converge-ict-cofounders-wealth-soars-as-philippine-broadband-penetration-catches-up","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/48792\/","title":{"rendered":"Converge ICT Cofounders\u2019 Wealth Soars As Philippine Broadband Penetration Catches Up"},"content":{"rendered":"<p>Dennis Anthony &amp; Maria Grace Uy.<\/p>\n<p>Converge ICT Solutions<\/p>\n<p>This story is part of Forbes\u2019 coverage of Philippines\u2019 Richest 2025. See the full list <a href=\"http:\/\/www.forbes.com\/philippines\" target=\"_self\" class=\"color-link\" title=\"http:\/\/www.forbes.com\/philippines\" data-ga-track=\"InternalLink:http:\/\/www.forbes.com\/philippines\" aria-label=\"here\" rel=\"nofollow noopener\">here<\/a>.<\/p>\n<p>With the government doubling down on increasing internet access across the archipelago, shares of broadband services provider Converge ICT Solutions have been on a tear, zooming nearly two-thirds in the past year. The net worth of the company\u2019s cofounders, husband and wife <a href=\"https:\/\/www.forbes.com\/profile\/dennis-anthony-maria-grace-uy\/?list=philippines-billionaires\" target=\"_self\" class=\"color-link\" title=\"https:\/\/www.forbes.com\/profile\/dennis-anthony-maria-grace-uy\/?list=philippines-billionaires\" data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/profile\/dennis-anthony-maria-grace-uy\/?list=philippines-billionaires\" aria-label=\"Dennis Anthony and Maria Grace Uy\" rel=\"nofollow noopener\">Dennis Anthony and Maria Grace Uy<\/a>\u2014CEO and president, respectively\u2014climbed 74% to $1.6 billion, placing them at No. 16 on the list.<\/p>\n<p>The company reported record net profit of nearly 11 billion pesos in 2024 on a 15% jump in revenue to 41 billion pesos. This momentum, says Samantha Gabrielle Patricio, an analyst at Manila\u2019s First Metro Securities, \u201clooks sustainable.\u201d She expects Converge to add about 100,000 new subscribers every quarter and achieve its goal of 4 million subscribers by 2027.<\/p>\n<p>Today, Converge has 2.7 million fixed broadband subscribers, second only to telecoms giant PLDT\u2019s 3.5 million. Some 300,000 customers of rival SkyCable are expected to start migrating to Converge this year after it struck a deal in 2024 to upgrade the network of the cash-strapped cable TV and broadband service provider owned by Federico Lopez and his family (No. 42).<\/p>\n<p>To gear up, Converge has earmarked up to 25 billion pesos this year\u2014a big jump from the 2024 capex of 9 billion pesos\u2014for cable infrastructure expansion and to launch two new data centers. \u201cWe\u2019re not yet done making inroads in the connectivity space,\u201d Dennis Anthony Uy says by email.<\/p>\n","protected":false},"excerpt":{"rendered":"Dennis Anthony &amp; Maria Grace Uy. Converge ICT Solutions This story is part of Forbes\u2019 coverage of Philippines\u2019&hellip;\n","protected":false},"author":2,"featured_media":48793,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[64,63,41489,41490,41495,237,41491,41493,41492,41494,41496,41497,41498,105],"class_list":{"0":"post-48792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-internet","8":"tag-au","9":"tag-australia","10":"tag-converge-ict","11":"tag-dennis-anthony","12":"tag-forbes-rich-list","13":"tag-internet","14":"tag-maria-grace-uy","15":"tag-ph-billionaires","16":"tag-philippines-billionaires","17":"tag-philippines-rich-list","18":"tag-philippines-richest","19":"tag-philippines-wealthiest","20":"tag-philippines-wealthy-people","21":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/48792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=48792"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/48792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/48793"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=48792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=48792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=48792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}