Create a Wonderful World
|Type||Public company (PSE: GLO)|
|Founded||Manila, Philippines (1935)|
|Headquarters||Fort Bonifacio, Metro Manila, Philippines|
|Key people||Jaime Augusto Zobel de Ayala II, Chairman
Ernest Cu, President and CEO
|Revenue||PHP 2.12 billion (17.2%) (Q3 2013)|
|Net income||PHP 9.5 billion (9%) (Q4 2013)|
|Employees||8,125 Employees (2013)|
Globe Telecom (PSE: GLO), commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. Formed out of a partnership between Ayala Corporation and Singapore Telecom, the company operates one of the largest and most technologically advanced mobile, fixed line, and broadband networks in the country, and maintains a large distributor and over-the-air reload network of retailers, distributors, suppliers, and business partners nationwide.
In 1928, Congress passed Act No. 3495 granting the Robert Dollar Company, a corporation organized and existing under the laws of the State of California, a franchise to operate wireless long-distance message services in the Philippines. The Robert Dollar Company subsequently incorporated in the Philippines as Globe Wireless Limited and in 1934, Congress passed Act No. 4150 transferring the franchise and privileges of the Robert Dollar Company to Globe Wireless Limited.
Globe Wireless Limited was subsequently renamed Globe Mackay Cable and Radio Corporation. Congress, through Republic Act 4630 enacted in 1965, further expanded its franchise to allow it to operate international communications systems. Globe Mackay Cable and Radio Corporation was closed in the Philippines by Martial law. Shortly before the expiration of its franchise, the Batasan Pambansa in 1980 enacted Batas Pambansa 95 granting Globe Mackay Cable and Radio Corporation a new franchise.
In 1991, Globe Mackay was subsequently merged with Clavecilla Radio Corporation. Globe Mackay, as the surviving company was renamed GMCR, Inc. and on March 19, 1992, the Philippine Congress passed Republic Act 7229 approving the merger and the transfer of the franchise of Clavecilla Radio Corporation to the surviving company to be renamed GMCR, Inc. Seven years later, on August 20, 1998, the Securities and Exchange Commission (SEC) approved the change of name of GMCR, Inc. to Globe Telecom, Inc. (Globe).
In 2013 Globe Telecom will open its new corporate headquarters in Bonifacio Global City (BGC) (Formerly Located In Pioneer Highlands In Mandaluyong City) on August 6, 2013. To mark its arrival in BGC, a part of the commercial hub (known as Bonificio High Street) was turned into an amusement park from August 2–4, 2013.
On June 15, 1990, Isla Communications Co., Inc. (Islacom) was incorporated. Through Republic Act 7372, Islacom was authorized to develop a full-service telecommunications network in the country. In 1994, Islacom launched the country's first digital mobile communication service using GSM technology.
On February 22, 2000, Globe, Islacom and its principal shareholders Ayala Corporation, Singapore Telecom, Asiacom Philippines and Deutsche Telekom entered into a general agreement for a combination of their business and operations. On June 27, 2001, Globe completed the share swap transaction with Islacom, which effectively made Islacom a 100%-owned subsidiary of Globe. Globe announced the operational integration of Globe and Islacom's wireless networks. A key element of the integration involves the migration of existing wireless subscribers of Islacom to the Touch Mobile (TM) service.
On August 7, 2003, the National Telecommunications Commission (NTC) approved the legal transfer of Globe's wireline business, authorizations, properties, assets and obligations to Islacom. Also, the SEC approved the change in name of Islacom to Innove Communications, Inc. (Innove).
On March 30, 2007, then Globe Telecom president and CEO Gerardo C. Ablaza, Jr. (who served until 2009), announced that the company would be diversifying from its core business to take advantage of the booming broadband business. Ablaza said, the company would increase its investments in cable systems and wirelines to build its broadband Internet infrastructure. Industry analysts have viewed Globe Telecom's plan to invest in cable systems as a strategy to compete more aggressively with Philippine Long Distance Telephone Company (PLDT), which took advantage of its wireline infrastructure to diversify into broadband.
As of 30 September 2013:
- Ayala Corporation: 30.4% (With common shares of 40,328,090)
- SingTel: 47.3% (With common shares of 62,646,487)
- Asiacom: N/A (Member of Ayala Group)
- Public Stock : 22.3% (With common shares of 29,593,507)
- Kickstart Ventures is an early-stage seed fund, wholly owned subsidiary of major telecommunications firm Globe Telecom, backed by SingTel and the Ayala Corporation.
- "Globe Launches First 4G Network For Mobile In The Philippines". Wicked Sago. Retrieved 5 March 2013.
- "Globe to open new HQ in Bonifacio Global City". INQUIRER.net. Retrieved 14 January 2014.
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