EdgePoint enters Philippine market with purchase of tower portfolio from PLDT Group
Sale and leaseback agreement with Smart and Digitel Mobile Philippines, Inc. for 2,934 towers across the Luzon Island group
KUALA LUMPUR, MALAYSIA – Media OutReach – 19 April 2022 – EdgePoint Infrastructure (“EdgePoint”), a leading ASEAN-based independent telecommunications infrastructure company backed by DigitalBridge, has entered the Philippine market, following the signing of a Sale & Leaseback agreement between Smart Communications Inc (“Smart”), Digitel Mobile Philippines, Inc. (“DMPI”) and Comworks Infratech Corporation (“EdgePoint Philippines”).
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 EdgePoint Philippines to serve its mobile communications and high-speed internet connectivity needs in the region. The sale of the towers to EdgePoint Philippines also cements 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.
“We are excited about EdgePoint’s expansion into the Philippines, one of the most interesting wireless growth markets we’ve seen in recent times. 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. DigitalBridge is committed to supporting EdgePoint’s growth ambitions and we are excited about the opportunity set we see ahead,” said Justin Chang, Managing Director, Head of Asia, DigitalBridge Investment Management.
Suresh Sidhu, Chief Executive Officer of EdgePoint, concluded, “EdgePoint is delighted and honoured by PLDT’s faith in our capabilities. We look forward to working with PLDT in true partnership. We also look to bring to bear the vast experience of our local partners, Comworks Inc. and SMS-GT. 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.”
For more information on EdgePoint, please visit the website at https://edgepointinfra.com/