EdgePoint Infrastructure, which is primarily involved in telecommunications infrastructure company backed by DigitalBridge, has entered the Philippine market, following the signing of a Sale & Leaseback agreement between Smart Communications Inc, Digitel Mobile Philippines, Inc., and Comworks Infratech Corporation.
The agreement entails the sale of 2,934 towers in the Luzon Island group by Smart and DMPI – wholly-owned wireless communications and digital services subsidiaries of PLDT Inc., the Philippines’ largest integrated telecommunications company, to EdgePoint Philippines. Following the sale, Smart will lease the towers from the new owners, this latest deal will cement EdgePoint’s position as the fastest-growing towerco in ASEAN, with a portfolio of 13,000 towers upon closure of the deal.
EdgePoint Philippines is a joint venture between EdgePoint, SMS Global Technologies Inc (“SMS-GT”), and ComWorks Inc. SMS-GT has been a leading provider of site acquisition, power solutions, and tower construction for over 25 years in the Philippines while ComWorks Inc is one of the country’s largest wholesalers of telecommunications services and mobile network equipment.
“EdgePoint’s entry into this market further strengthens its position in the high growth Southeast Asia region and represents another significant milestone for its development into one of the leading digital infrastructure providers in the 5G age said Justin Chang, Managing Director, Head of Asia, DigitalBridge Investment Management.
Suresh Sidhu, Chief Executive Officer, concluded, “We are committed to building a world-class operation to expand next-generation connectivity solutions, bridging the digital divide in the Philippines and creating new job opportunities in the sector. The Philippines telecoms sector has tremendous potential, and we look forward to being part of its future.”
