Standard & Poor’s assessment of PLDT

Philippine Long Distance Telephone Co.’s "satisfactory" business risk profile reflects the company's strong market position and good profitability in a competitive and matured market. The Philippine cellular telecom market has become a duopoly after PLDT's acquisition of Digital Telecommunications Philippines Inc. (Digitel) in October 2011. Competition intensified in the second half of 2011, with increased bucket plans and unlimited on-net offers on products such as voice and text. However, we expect competition in the cellular market to ease over the next 12-18 months. We expect the less profitable data and broadband segment to propel growth given the saturation in the cellular segment and limited growth potential of the fixed-line voice segment. We expect PLDT to retain its position as the leading integrated telecommunications service provider in the Philippines. As of March 31, 2012, the company had a subscriber base of about 66.1 million in the wireless market, 2.2 million (including 0.3 million of Digitel) in the fixed-line segment, and 3.0 million in the broadband segment. Together with Digitel's subscribers, PLDT's subscriber market share was about 65 percent across all segments. We expect the Digitel acquisition to further strengthen both PLDT's competitive position in the cellular segment and its growth opportunities in broadband services. We expect PLDT's operating performance to remain weak in 2012. The company's revenues declined 1 percent in 2011, despite consolidating Digitel (for two months). This is because of the decline in voice and messaging revenues despite a volume increase stemming from the popularity of unlimited and bucket plans. PLDT's EBITDA margins declined 385 basis points to 52.7 percent because of weaker margins at Digitel, intensified competition, and higher marketing expenses including subsidies. PLDT plans to invest P6 billion in TV5 and Cignal TV through MediaQuest Holdings Inc. (not rated). Though not in the telecom business, this investment in content will complement PLDT's existing broadband business and will only have a marginal negative impact on PLDT's operating and financial metrics. This investment is in addition to company's indirect 24 percent ownership of Philippine utility company, Manila Electric Co. (B+/Stable/). We assess PLDT's financial risk profile as "intermediate." We expect the company's positive free operating cash flow and financial ratios to remain strong. Our view considers PLDT's higher cash capital expenditure of P31 billion in 2011 and plans to increase it to P38.1 billion in 2012. The spending is part of the two-year network modernization program the company started in 2011. PLDT has maintained its dividend payout ratio at 100 percent. As of April 30, 2012, First Pacific Group (not rated) owns 25.6 percent of PLDT, Nippon Telegraph & Telephone Corp. (AA/Stable/A-1+) through its subsidiaries owns 20.3 percent, and JG Summit Group (not rated) owns 8 percent. The public holds the rest. Base-case scenario Standard & Poor's base-case scenario for PLDT assumes the debt-to-EBITDA ratio of about 1.6x, debt-to-capital ratio of about 48 percent, and the ratio of funds from operations (FFO) to debt above 50 percent over the next three years. Our forecast considers the addition of MediaQuest's debt in 2012. Our projections are based on the following assumptions: Revenue would grow by about 16 percent in 2012 primarily on account of full-year Digitel consolidation and half-year MediaQuest consolidation. Revenue growth rate would fall to 4 percent in 2013 after full-year MediaQuest consolidation and to about 2.5 percent in 2014. This is based on our expectation that subscribers will continue to grow, but growth would be partly offset by a fall in average revenue per user (ARPU) due to competitive pressure. EBITDA margins will gradually rise from about 47 percent in 2012 to 49 percent in 2014 after factoring in the weaker margins at Digitel, the loss-making MediaQuest, gradual easing of competitive pressure, and benefits of synergies and operating efficiency. Capital expenditure will increase to about 22 percent of revenue in 2012 and 2013 and then gradually decline to below 20 percent of revenue in 2014. We have assumed an investment of P6 billion in MediaQuest during mid-2012. We have assumed 100% dividend payout ratio. Liquidity We assess PLDT's liquidity as "strong," as defined in our criteria. We expect the company's sources of liquidity to exceed its uses by more than 1.5x over the next 12 months. We anticipate that PLDT's net liquidity sources will remain positive even if EBITDA declines by 30 percent. Our liquidity assessment is based on the following factors and assumptions: Liquidity sources include cash and short-term investments of P47.0 billion, and unused credit facilities of about P6.9 billion as of Dec. 31, 2011. The sources also include our projected FFO of about P65 billion over the next 12 months. Uses of liquidity include debt maturities of about P23 billion as well as maintenance and other capital expenditure of about P20.0 billion and projected dividend of about P20.0 billion, which we expect the company to incur and distribute, respectively, even in case of stress. The company also has significant headroom in its covenants. PLDT's foreign currency risk exposure is moderate, in our view. As of Dec. 31, 2011, 48 percent of the company's total consolidated debt is foreign currency-denominated, of which about 32 percent is unhedged. Interest rate risk is limited because more than 73 percent of PLDT's debt is based on fixed rates. Outlook The positive rating outlook on PLDT reflects the positive outlook on the sovereign rating. It also reflects our expectation that PLDT's operating performance will be stable and that the company will generate positive free operating cash flows in at least the next two years. We could raise the foreign currency rating on PLDT if we raise the 'BB+' T&C risk assessment for the Philippines. We could revise the outlook to stable if the outlook on the Philippines foreign currency sovereign rating is revised to stable from positive. We could also revise the outlook to stable if PLDT's credit profile deteriorates, due to shareholder return initiatives that weaken financial ratios. A debt-to-EBITDA ratio of more than 3x could indicate such deterioration. We could also downgrade the company if it significantly expands into sectors that are exposed to the uncertain operating and regulatory environment in the Philippines.

Tattoo presents the new iPad

TATTOO, the #1 broadband in the Philippines, continues to ride high in its broadband supremacy as it brings to the country the new iPad bundled with exclusive freebies, more value for money plans and guaranteed ultimate browsing experience! The Tattoo-new iPad bundle was officially launched Tuesday, May 29, at the EXCHANGE PLAZA, Ayala Triangle, Makati City to an enthusiastic crowd of technophiles, top celebrities, media and Tattoo and Apple fanatics, eager to tinker with the hottest tablet today powered by the broadband leader Tattoo. “Tattoo is very pleased to bring to our subscribers the hottest tablet and the must-have device right now which is the new iPad. The strength of Tattoo as the number 1 broadband in the Philippines combined with the amazing features of the new iPad is a perfect match. Tattoo provides the best service and experience to our subscribers and so much more with unbeatable offers, freebies and discounts so that they live without limits. The new iPad with Tattoo bring to users a totally new, leveled-up experience! ” explains Dong Ronquillo, Head for Tattoo Nomadic Broadband Business. The new iPad boasts of a `monster resolution’ that could blow one’s imagination. It brings a clarity like never before seen with its 3.1 million pixels Retina Display feature creating crisp images. The battery life of the new iPad could take you to up to 10 hours of uninterrupted surfing, video-watching and music. Music lovers will be delighted with the new iPad’s amazing sound impact complete with a Dolby Digital 5.1 surround sound feature and ambient light sensor. As the #1 broadband in the Philippines, Tattoo pairs the new iPad with unbeatable value for money plans plus exclusive discounts, privileges and freebies designed to provide the subscriber with ultimate surfing and browsing experience. Available at Plans 499 and P999, the new iPad powered by Tattoo comes with your choice of Wi-Fi + Cellular at 16 GB, 32 GB or 64GB. Download your favorite YouTube videos, upload and share your favorite photos in an instant and connect with your friends on-the-go with your new iPad with Tattoo at speeds of up to 7.2 mbps. You need more speed? Tattoo offers speed boosters for Plan 999 at very minimal additional charge of P100, P150 and P200 for speed boosts of up to 12 mbps, up to 15 mbps and up to 21 mbps! You want more data browsing time? Tattoo’s got that covered! Plan 999 subscribers have unlimited data browsing time while Plan 499 users have a standard 50 hours time that could be stretched to 292 hours using Supersurf promos! On top of these, subscribers are sure to enjoy their new iPad best with Tattoo with the exclusive promos, freebies, discounts and privileges via the livetattoo.ph portal. Subscribers can get 50% discounts on Ayala Cinema tickets, 20% off on selected items in Multiply.com and a free one month subscription to online editions of Philippine Daily Inquirer of Summit Media magazine titles and a lot more.Livetattoo.ph is the first and only online lifestyle portal that caters to the unique passions and interests of Tattoo subscribers by giving them unbeatable perks, freebies and discounts! The new iPad – Tattoo bundle is also available on a 12-month, 0% interest installment plan with the country’s top credit card companies. Globe, which powers Tattoo, is the first telco to bring Apple devices to the country and since then has sustained years of partnership with the Apple brand offering subscribers excellent and quality technical, network and after-sales support specific to Apple devices.

Sky Cable buys Destiny Cable’s assets

Three companies, including Destiny Cable, have to agreed sell their cable TV and broadband internet assets and subscribers to the Lopez-owned Sky Cable Corp. (SKY). Destiny Cable Inc. (DCI), Solid Broadband Corporation (SBC), and Uni-Cable TV Inc. (UNI) said they "have recently forged an agreement" with SKY "to further improve the services provided to their Destiny cable television and MyDestiny broadband internet subscribers." A statement on the deal released Friday said “the agreement entails the sale of the cable TV and broadband internet assets and subscribers of DCI, SBC, and UNI to SKY.” “The pay TV and broadband markets require continuous significant investments, if we are to keep up with our major competitors, particularly the direct-to-home satellite (DTH) and telco companies,” said David Lim, president of DCI, SBC, and UNI. Lim said the agreement was reached order to give their Destiny Cable and MyDestiny broadband subscribers “the best products and services possible.” To do this, Lim said they “realized that this will entail resources, for digitizing our cable network and expanding our broadband services, that we do not have.” “We believe our agreement with SKY will allow subscribers to enjoy the benefits of the latest technologies," Lim said. SKY Chief Operating Officer Rodrigo P. Montinola, meantime, said, “We are happy with the opportunity to extend the unique advantages of the digital cable TV and cable broadband internet platforms to Destiny and MyDestiny subscribers.” He said SKY “will take extra care not to disrupt the existing services of the current subscribers – they will continue to pay same monthly fees for their subscribed plans, at the same payment centers, and can continue to reach Customer Service at the same numbers. We will make announcements on new services to be made available, at the appropriate time.” Lim said the deal will allow their holding company, Solid Group Inc., to focus on selling its mobile phone brand, MyPhone. “Our tie up with SKY came at an opportune time as it allows us to focus on our other core businesses. Our holding company Solid Group Inc (SGI), markets and distributes the leading Filipino mobile phone brand MyPhone," he said. ABS-CBN Corp.'s Sky Cable is the Philippines’ largest cable television service provider with around 500,000 upscale subscribers in Metro Manila and key urban areas nationwide. ABS-CBNnews.com is the online news outfit of ABS-CBN Corp.

Globe to offer new iPad on May 29

Local telecommunications firm Globe Telecom said it will start selling the third-generation iPad tablet computer in the country next week. Globe said customers in the Philippines can avail of the new iPad under Tattoo data plans, the company’s broadband service, starting Tuesday, May 29. “We’re very excited to launch the incredible new iPad in the Philippines,” Peter Bithos, senior adviser for consumer business of Globe, said in a statement. The third-generation iPad was unveiled in the United States last March. It is 4G-ready and boasts of a quad-core graphics processor.

3M subscribe to PLDT broadband

The Philippine Long Distance Telephone Co. yesterday said that subscribers to its broadband service exceeded three million in the first quarter. Napoleon L. Nazareno, PLDT and Smart president and CEO, said that the company will continue to offer services priced depending on what the subscriber wants. Nazareno said PLDT leads the market, with revenues from broadband and internet increasing 34 percent to P5.8 billion in the first three months of the year. The PLDT group accounts for 65 percent of the market, he said. Nazareno said he expects to increase profitability by higher volume-based offers and fair usage policies. PLDT plans to offer services that subscribers can resell. It will also offer variants of products differentiated by “speed and price points such as the fiber-to-the-home and bundled products such as WiFi service outside the home for DSL subscribers and direct-to-home or DTH content packages in addition to our fixed line service,” Nazareno said. PLDT’s broadband business contributes 14 percent of consolidated service revenues. Of the total broadband revenues in the first quarter, PLDT DSL generated P2.6 billion, up 15 percent compared with the same period last year. Smart Communications Inc. generated P1.7 billion in revenues from its wireless broadband services while the Digitel group contributed P800 million. Smart’s mobile internet revenues for the first quarter of 2012 increased 71 percent year on year to P600 million.

Smart offers flexible broadband plans with gadget bundles

Filipinos can now enjoy the best mobile broadband services on the best devices as Smart introduces its array of “Flexisurf” postpaid plans. For the first time in the mobile broadband postpaid category, plans that offer the most flexible choices of plan, device and payment terms are now available. Touted as “the easiest way to own the latest gadgets,” Flexisurf Plans not only gives Filipinos the freedom to choose the broadband plan that suits their needs and habits, but also the chance to purchase the hottest tablet and netbook devices at discounted and amortized prices. Starting at just P299 a month for a SIM-only plan, “Flexisurfers” can enjoy 30 hours of Internet surfing of up to 5Mbps and avail themselves of the seven-inch, 3G- and Wi-Fi-enabled Cherry Mobile Superion Android tablet for only P341 on top of their monthly service fee. “Our 24-month payment terms are the easiest in the industry — no one else offers this,” said Smart Broadband Internet and Data Services head Lloyd Manaloto. “The best you get from a gadget store is 12 or 18 months if they are generous,” he added. Heavier Internet users, meanwhile, can opt for the P499 or P599 Power Plug-It or Pocket Wi-Fi plans which both come with 50 hours of surfing at speeds of up to 5Mbps. Devices available at these plans are the Cherry Mobile Superion + tablet (P541/month), the Neo Vivid netbook (P641/month), the dual core Acer AOD722 netbook (P1,037/month), the Samsung Galaxy Tab P6200 (P1,199/month), and the Asus Slider tablet (P1,424/month). As an added bonus, all plans are protected by Smart’s anti-“bill shock” feature. When a user exceeds the allotted number of hours in his or her plan, anti-bill shock is activated after 80 hours and caps billing at no more than P999 for the month. “Unlike plans offered by the competition, Flexisurf lives up to its name,” said Manaloto. “Whether you are the type who just checks up on Facebook and reads e-mail or a Netizen who is into downloads and video streaming, we have got you covered.” For more information on Flexisurf and to view the complete list of available device bundles, visit www.smart.com.ph/flexisurf or call 848-8877. Also visit the nearest Smart Store.

PLDT Philippines Selects Alvarion's(R) Wi-Fi Solution for Nationwide Wi-Fi Zone Project

Alvarion(R) Ltd. ALVR +8.70% , a provider of optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of public and private networks, today announced the multi-million dollar project with PLDT to provide carrier-grade Wi-Fi access starting with over 3,000 hot zones around Manila's metropolitan area, and continuing to other major areas around the Philippines. Installation has begun on the first phase and the entire project is expected to be completed in two years. PLDT is the largest telecommunications company in the Philippines providing the largest and most diversified range of telecommunications services. PLDT is revolutionizing its customers' surfing experience with the roll-out of Wi-Fi zones located in key cities in the Philippines. This Wi-Fi Zone Project provides access to a premium, high-speed Wi-Fi service in over 3,000 public areas such as cafes, bars and clubs, car dealerships, salons, shopping malls, restaurants and cinemas. In order to make this solution visually appealing around the city, Alvarion designed graphical sleeves applied to the Wi-Fi units that make it environment friendly and camouflage it with the surroundings. For a minimal fee of P150.00 per month, PLDT myDSL subscribers get unlimited access to the premium Wi-Fi Zone service using one username and password in all of the 3,000 Wi-Fi zones nationwide. Alvarion's WBSn solution was chosen by PLDT amongst the vendors who participated in a field trial performance test. These tests were conducted in busy streets, parks, restaurants and office buildings connecting handheld devices such as laptops, tablets and smartphones. Alvarion passed the criteria that included the capability in reaching long distances, operating in Non-Line-of-Sight (NLOS), overcoming dense urban obstacles such as trees and solid structures, and penetrating inside public buildings such as museums and libraries. Network planning and carrier-grade advanced Wi-Fi technology allowed Alvarion to strategically place one base station in a tactical location that would provide connectivity inside malls and buildings and cover distances of up to 500 meters while overcoming obstacles in both Line-of-Sight (LOS) and Non-Line-of-Sight conditions. PLDT required at least 1 Mbps throughput at a 500 meter Line-of-Sight distance from the base station. Alvarion outperformed this requirement with up to 20 Mbps throughput at 500 meters in a Non-Line-of-Sight, urban environment. "With Alvarion's advanced technology, professional network planning and experienced engineers, we were able to offer PLDT exactly what they needed in a Wi-Fi solution," states Hezi Lapid, President and CEO of Alvarion, "We have enabled a nationwide network of carrier-grade Wi-Fi hot spots that will give PLDT's customers strong Internet connection anywhere they are, delivering a fantastic user experience no matter where the customer may go."

SkyCable aims to grow market, signs 3 deals

Rather than aim for an increase in pay TV (television) market share, a ranking Sky Cable Corp. official said on Monday the company is gunning to expand the market which, at its present state, continues to suffer from rampant illegal cable connections. “Let’s put it this way, instead of increasing the combined market shares of Sky, Destiny [Destiny Cable Inc.], MyDestiny [Solid Broadband Corp.] and Uni-Cable TV in the pay TV and cable broadband businesses, we can expand the market with digitization. Instead of fighting for a bigger share of a very small market it is better to expand the market size. If we offer varied and affordable cable TV subscriptions, the market will grow. We would like to think that way rather than all of us eating the same market size,” said SkyCable Chief Operating Officer Rodrigo Montinola, in a phone interview yesterday. UniCable is a direct-to-home (DTH) cable TV subscription service covering the areas in Cebu. Solid Broadband, meanwhile, is a broadband service company that operates the MyDestiny brand. Destiny is a provider of cable TV service, similar to what SkyCable offers. On May 11 SkyCable signed separate deals with these companies that are under Solid Group Inc. owned by the Lim family. “The combined market share is probably 45 percent. The rest is shared by our rivals including Cignal, Dream Satellite TV and Cable Link,” said Montinola. The agreements involve the sale and transfer of Destiny Cable’s assets used in its business of constructing, maintaining and operating community antennae television systems for public and commercial purposes to Sky Cable, at a purchase price of P2,403,421,354. Another asset purchase agreement was executed between Solid Broadband and SkyCable. Under the P1-billion deal, Solid Broadband will sell, transfer and convey to SkyCable all assets used in the business of operating commercial telecommunications facilities, coastal stations for ships-at-sea, aeronautical stations for aircraft in flight, television and broadcasting stations, and other telecommunications services. Meanwhile, Uni-Cable agreed to sell, transfer and convey to Sky Cable all of Uni’s assets used in its business of operating a cable antenna television system in Mandaue and Lapu Lapu City, Cebu province, including, but not limited to, a satellite TV system, cable TV headend station, repeaters, booster, and other related equipment, at a purchase price of P93,578,646. SkyCable will use both equity and borrowed funds to finance the purchase of the three companies’ assets which will be used in the expansion of its television and broadband business. “Funding will be sourced from a combination of equity and borrowings. The details are still being planned,” said Montinola. SkyCable has no plans of acquiring more cable TV firms. “This is it. Even before this transaction we are already a strong No. 1 in the pay TV segment,” said the official. For his part, David Lim, president of DCI, SBC and UNI, said “The pay TV and broadband markets require continuous significant investments, if we are to keep up with our major competitors, particularly the direct-to-home satellite and telco companies. We are gratified by the loyalty of our Destiny Cable subscribers and MyDestiny broadband subscribers all these years, and would always want to give them the best products and services possible. However, we realized that this will entail resources, for digitizing our cable network and expanding our broadband services, that we do not have. We believe our agreement with SkyCable will allow subscribers to enjoy the benefits of the latest technologies.” He added that “our tieup with SkyCable came at an opportune time as it allows us to focus on our other core businesses.” Our holding company Solid Group Inc. markets and distributes mobile phone brand MyPhone.” The cable industry has recorded billions of pesos in revenue lost due to illegal cable connections. Further, the industry cited that there is a one-on-one ratio between a paying cable subscriber and an illegal connect. This translates to about P6.3 billion in losses annually for the industry.t With the deal, this gives us the opportunity to continue with our digitization efforts to curb illegal connections. Eventually, we will apply digitization to Destiny Cable subscribers,W said Montinola. Sky Cable is aiming to convert about 80 percent of its 500,000 subscribers to go digital by year-end. About P1.5 billion has been earmarked for capital expenditures.

Sky Cable buys Solid’s Destiny Cable

Lopez-led Sky Cable Corp. has struck a deal to acquire Solid Group’s Destiny Cable television and related broadband Internet and pay TV businesses for P3.5 billion, thus solidifying its position as the leader in the cable TV industry. Sky Cable signed late Friday a deal to buy the assets of Destiny Cable Inc., Solid Broadband Corp. and Uni-Cable TV Inc. Solid Broadband owns the cable infrastructure that is used by pay TV provider Destiny Cable, while Uni-Cable is a niche cable TV provider in Cebu with estimated subscribers of between 3,000 and 5,000. The consolidation of Solid Group’s cable units with Sky Cable is seen giving the Lopez company a combined 45 percent share of the pay TV business serving about 650,000 households nationwide, said Sky Cable chief operating officer Rodrigo Montinola in a phone interview last Saturday. “We are happy with the opportunity to extend the unique advantages of the digital cable TV and cable broadband Internet platforms to Destiny and MyDestiny subscribers. As we plan these out, we will take extra care not to disrupt the existing services of the current subscribers—they will continue to pay same monthly fees for their subscribed plans, at the same payment centers, and can continue to reach customer service at the same numbers,” Montinola said. Montinola also said that all contracts with content providers would be honored. Destiny Cable president David Lim, meanwhile, said the sale of cable TV assets would allow the company to focus on other businesses. Solid Group markets and distributes Filipino mobile brand MyPhone. “Our tie-up with Sky Cable came at an opportune time as it allows us to focus on our core businesses,” he said. He said the Destiny cable brand would do better in the hands of Sky Cable, which is a subsidiary of ABS-CBN Corp. “The pay TV and broadband markets require continuous, significant investments, if we are to keep up with our major competitors, particularly the direct-to-home satellite and telecom companies,” Lim said. “We realized that this will entail resources, for digitizing our cable network and expanding our broadband services, which we do not have. We believe our agreement with Sky Cable will allow subscribers to enjoy the benefits of the latest technologies,” Lim said. Sky Cable, the country’s cable TV industry leader, has about half a million subscribers in the Philippines, mostly located within Metro Manila. On the funding for Sky Cable’s acquisition of Destiny, Montinola said it would be covered by a combination of equity and loans. Broadcasting giant ABS-CBN Broadcasting Corp. has a 60 percent interest in Sky Cable while the remaining 40 percent is held by STT Communications of Singapore, which has investments in the form of depositary receipts. Founded in 1990, Sky Cable is the dominant player in the cable TV business, but pay TV faces stiff competition from direct-to-home or satellite TV providers like Cignal and Dream TV. In 2010, Sky Cable also launched the Sky Broadband Ultra High Speed, an Internet connection subscription that offers speeds of up to 112 mbps. It also launched a TV on Demand service “iWantv” in 2010, which allows subscribers to catch up on missed episodes of favorite ABS-CBN shows on their desktops or laptops.

Sybase 365 Enables Globe Telecom To Expand Its Ipx Connectivity Globally

Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced it has been working with Globe Telecom, Philippines' leading mobile operator, running live commercial voice traffic across multiple Asian operators. IPX Voice is one of several innovative services Sybase 365 offers on its Sybase® IPX 365(TM) network, enabling Globe to exchange international calls directly with other mobile operators rather than routing calls through traditional wholesale voice carriers. "Today, our customers expect the highest quality of service. As we provide services and solutions that give our subscribers a more enriched mobile experience, the same is expected for international calls," said Rizza Maniego-Eala, International Business Group head of Globe Telecom. "Through this partnership, with Sybase 365, we will have direct control over the routing and quality of voice calls which can positively increase international voice revenues. In addition, Globe will be well positioned to expand its IPX connectivity globally across Asia and EMEA." IPX lays the foundation for operators to establish direct commercial and technical interconnect with each other, specifically for cross regional connectivity. "Globe's live commercial voice traffic over IPX is a further testament that voice hubbing via IPX is both technically feasible and commercially viable," said Howard Stevens, senior vice president, global messaging solutions for Sybase 365. "With the growth of our IPX community, from CSL and dtac, who were the first operators to connect to the Sybase 365 IPX Voice Hub, the addition of a number of operators including Globe further demonstrates our leadership in the evolution to IPX. Sybase 365 is becoming the mobile industry's preferred partner for connecting with service providers over private IP networks across the globe." The Sybase IPX 365 network is designed to serve both fixed and mobile network operators with premium quality service and security required in the conversion to IP networks. The full suite of IPX services includes connectivity to BlackBerry® Infrastructure, global data roaming (GRX), SMS and MMS messaging hubs, IPX Voice and roaming signalling --all run over a high quality Multi-Protocol Label Switching (MPLS) network. Sybase 365's Global Operator survey found that majority of operators surveyed (63.5%) plan to deploy IPX over the next one to three years. The findings underscore the firm grasp of the benefits and opportunities for IPX that operators have and that IPX sets the foundation as the industry moves towards all IP services, including LTE. About Globe Globe Telecom is a leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connections, internet and managed services. Its principals are Ayala Corporation and Singapore Telecom who are acknowledged industry leaders in the country and in the region. For more information, visit www.globe.com.ph . Follow us on Twitter: http://twitter.com/talk2Globe and Facebook: http://facebook.com/GlobePH . About Sybase 365Sybase 365, a subsidiary of Sybase, Inc. (an SAP company; NYSE: SAP), is the global leader in enabling mobile information services for mobile operators, financial institutions and enterprises. We provide our customers with the widest offering in SMS, MMS, GRX, IPX interoperability, end-to-end mobile commerce solutions, innovative mCRM, mobile marketing and content delivery services. Sybase 365 processes more than 1.8 billion messages per day, reaching 900 operators and 5.5 billion subscribers around the world. For more information, visit: www.sybase.com/365 . Read our blogs: http://blogs.sybase.com . Sybase, Sybase 365, Sybase IPX 365 and other Sybase products and services mentioned in the release, are trademarks or registered trademarks of Sybase, Inc. ® indicates registration in the United States. All other product and service names mentioned are the trademarks of their respective companies. Forward-looking StatementAny statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

Globe Selects Amdocs for Strategic BSS Transformation Project under Seven-Year Agreement

Globe Telecom (PSE: GLO), one of the largest service providers in the Philippines and a subsidiary of Ayala Corporation and the SingTel Group, and Amdocs (NYSE: DOX), the leading provider of customer experience systems and services, today announced the signing of a seven-year agreement for the transformation and continuous improvement and upgrade of Globe Telecom's business support systems (BSS) and enterprise data warehouse. The agreement is aimed at modernizing and consolidating Globe's BSS and data warehouse systems as well as business processes across prepaid and postpaid wireless, wireline, and broadband operations. This will enable Globe to manage its customer relationships better across various product offerings within the organization, and provide a new level of personalized customer experience that its current subscribers are looking for. "We selected Amdocs to help us transform our IT infrastructure, having seen their track record in delivering similar data warehouse and BSS transformation projects around the world," said Ernest Cu, president and chief executive officer at Globe. "With a strategic partner like Amdocs, we can approach these two large projects in a holistic manner. We will be able to convert data from our BSS systems into actionable business intelligence that will enable us to improve the customer experience, drive service uptake and revenues, and reduce operational costs." For the Globe BSS transformation, Amdocs will deliver multiple products from its CES 8.1 portfolio and will provide continuous upgrades across all in-scope Amdocs and related third party systems. Amdocs' solutions include convergent charging and billing, customer management, ordering and enterprise-wide product catalog. For the Globe BI and data warehouse transformation, Amdocs was awarded a system integration project in November 2011 to replace the Globe existing data warehouse with new systems from Teradata, SAS, EMC, Informatica, IBM and HP and centralize information across Globe billing, customer management and ordering systems for advanced analytical capabilities. "Transforming both BSS and data warehouse platforms with direct oversight from Amdocs positions Globe at the forefront of operational excellence in the Philippines and frees them to focus on business growth," said Brian Shepherd, group president for Amdocs. "Our processes and advanced products allow easy definition, tracking and performance level improvement, and gives Globe full control over improved operational results." This new agreement expands on Amdocs' existing relationship with Globe, following the deployment of the network-based Amdocs Service Platform in June 2010. Using the platform, Globe was able to reduce time to market for new applications and customer promotions from months to weeks, drive a double-digit increase in ARPU, and a triple take-up of broadband promotions.

Vonage Announces International Partnership with Globe™ in the Philippines

Vonage Holdings Corp. today announced it has entered into an agreement with Globe™, a leading telecommunications provider in the Philippines, to deliver best-in-market pricing to and from the Philippines. With more than three million Filipinos living in the U.S., the Filipino calling segment represents a substantial growth opportunity for Vonage and for Globe™. This attractive customer segment is highly educated, has an average income that is 50% higher than the U.S. population, has a high penetration of broadband service and a high affinity for staying connected to friends and family overseas. "We are pleased to sign our first international partnership with Globe," said Marc Lefar, Vonage Chief Executive Officer. "Together, we've structured a creative alliance that allows us to address the largely underserved needs of Filipino callers. We expect to be in market later this year." "This alliance marks a significant milestone in Vonage's strategy to expand our services beyond North America," said Lefar. "By leveraging our heritage of VoIP innovation and expertise in international long distance, we can offer partners such as Globe the ability to expand their communications businesses in their local markets and beyond." "We remain actively involved in discussions with several prospective partners and look forward to announcing additional alliances before the end of this year," added Lefar.
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