NOW Corporation (PSE Ticker: $NOW), a Telecommunications, Media and Technology (TMT) company in the Philippines has signed a Memorandum of Understanding (MOU) with the National Transmission Corporation (TRANSCO) and NOW Telecom Company, Inc.
The MOU enables the parties to collaborate the potential use of TRANSCO’s existing fiber and microwave assets nationwide of use and access in certain fiber-optic cores, vacant lots, tower spaces, and related facilities currently being operated on by NGCP and owned by TRANSCO for the purpose of building a nationwide fixed broadband network.
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| Photo: http://now-corp.com/ |
“NOW is determined to build an independent nationwide backbone to cover the entire country and we are seriously looking on the viability of collaborating with TransCo to achieve this end. We now have a government committed to exhaust all means to solve the digital divide,” says Dr. Thomas Aquino, Chairman of NOW Corporation, signatory in the MOU signed together with Atty. Melvin Matibag, President and CEO of Transco. “With a newly renewed 25-year franchise, NOW Corp will co-lead in the unfolding of thefull transformation of the digital Filipino, in scale and in scope, the country has not seen before.” says Mel Velarde, NOW Corp President and CEO.
NOW Corporation, as part of its comprehensive approach in the Telecommunications, Media and Technology space, has been upgrading, thru partnership with its affiliate NOW Telecom, its system to provide better and more reliable broadband services in Metro Manila. In 2016, it rolled out its pre-5G technologies to deliver broadband and wireless cable and TV connectivity to enterprises such as hotels, schools, BPOs, hospitals, commercial, and residential buildings.
In February 2018, President Rodrigo Roa Duterte has signed into law renewing the franchise of NOW Telecom for another twenty five years (RA 10972). Under the newlysigned law, NOW Telecom shall provide improved telecommunications services, such as wired, wireless, fixed, cellular, mobile, among others.
