Globe launches Innove Communications

Innove Communications, Inc., a wholly-owned subsidiary of Globe Telecom, was formally launched yesterday, signaling the emergence of a financially strong wireline company dedicated to providing wider coverage, integrated voice and data solutions, and a focused approach to satisfying the communication needs of its customers.

Last Oct. 1, all the products, services, assets, licenses, manpower and networks of GlobeQUEST and Globelines were fully migrated to Innove. The two brands will continue to be offered by Innove under license from Globe.

With this development, Globe management believes that both Globe and Innove will be better positioned within their respective businesses to meet the challenges of the increasingly competitive telecom environment and maximize opportunities through a focused approach to each segment of the business.

"Innove Communications is Globe Telecom’s subsidiary serving voice, private data network, and Internet needs of individuals and enterprises in the Philippines. We have transferred and integrated our wireline networks and operations into this company which used to be named Isla Communications," Innove chairman and president Gerardo Ablaza Jr. said.

Innove chief executive officer Gil Genio said the company has everything going for it. "We have the flexibility of a start-up to define our own processes, systems, and structures to better take advantage of opportunities. We are a financially strong company with more than P24 billion in assets, P8 billion in annual revenues, P2 billion in annual operating income, and zero debt. Likewise, we maintain the strong support from Globe and its shareholders. Clearly, these are winning elements that no other carrier can match," he said.

According to Genio, the wireline business needs to be able to shape its own future and pursue business directions more independently.

Thus, he said, a new structure is needed to give wireline the flexibility to address market opportunities and position it for success.

"The success parameters of the wireline business are increasingly different from those for the wireless business, and we need to adopt an organization more suited to wireline," he explained.

With Innove in place, Genio said they would be able to use a consolidated network and internal organization that will provide the company the ability to be more customer centric, to act fast, and be more flexible in setting up subsidiaries, forge partnerships or acquire related business.

Last Aug. 7, the National Telecommunications Commission (NTC) approved the legal transfer of Globe’s wireline business, authorizations, properties and assets to Isla Communications Co. (Islacom).

Islacom’s corporate name was subsequently changed to Innove to reflect the renewed drive for innovation and excellence in the consolidated wireline business. The name change was approved by the Securities and Exchange Commission (SEC) on Aug. 25.