VILLAR-LED Prime Asset Ventures, Inc. (PAVI) is looking to ride on the increased use of the internet nationwide through its telecommunications subsidiary Streamtech Systems Technologies, Inc.
In a statement on Thursday, Streamtech said it is planning to take over the internet operations of Planet Cable, Inc., a local multi-system operator that offers cable TV services, cable internet and digital video broadcast across the country.
Streamtech said once it completes the deal with Planet Cable, it will take over the company’s operations in Metro Manila, Regions I, III and IV-A, Iloilo province and Davao.
This would grow Streamtech’s existing portfolio of services, which currently include fixed broadband for residential customers and small- and medium-sized enterprises, and direct internet access.
At the moment, Streamtech’s clients are mostly concentrated on Villar-led companies such as Vista Land & Lifescapes, Inc., Camella Homes and PrimeWater.
“We have high hopes of providing internet services to the farthest reach possible, also in line with our commitment to provide high-quality services to Filipinos across the country. We are very confident that we can greatly boost the internet experience of our existing and future customers,” PAVI Founder and Owner Manuel Paolo A. Villar said in the statement.
Streamtech was one of the companies that bought bid documents from the government when it did an auction for a new telco player in 2018. It eventually decided not to join the bidding. — Denise A. Valdez
Resource: Business World