This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
KeyTech Subsidiary Acquires Bermuda CableVision
Hamilton, Bermuda – 16 July, 2015 — In a filing with the Bermuda Stock Exchange, KeyTech Limited (the "Company"; Ticker: KEY.BH) announced that its subsidiary has acquired Cablevision. The filing stated:
The KeyTech Group of Companies today announces that its subsidiary has acquired 100 per cent of the issued shares of Bermuda CableVision. This will allow CableVision to be merged with Logic Communications Ltd. (“Logic”).
Lloyd Fray, CEO, KeyTech Group of Companies, says: “This is a significant transaction for KeyTech and we are incredibly excited to be announcing this news today. The transaction positions Logic for future growth as it brings together Bermuda’s premier ISP and cable access providers. In order for these companies to meet growing consumer demand for high bandwidth products, one bill, and to expedite capital intensive projects for network expansion and upgrades, we felt it was prudent for KeyTech to acquire 100 per cent of the Cablevision shares and to merge these two entities.
“The combination of Logic and Cablevision will create a “triple play” telecommunications provider that is supported by a robust network with superior customer service that caters to both corporate and residential customers. Logic and Cablevision customers will benefit from an improved customer experience and be able to enjoy the benefits of bundled ISP services with access, unified billing and telephony.”
As a result of the merger, Cablevision will be rebranded as Logic. Both Cablevision and Logic’s existing customer service centres will continue to operate under the Logic brand.
-Ends-
Notes to Editors
Founded in 1998, the KeyTech Group of Companies is a diverse telecommunications holding company listed on the Bermuda Stock Exchange. Its subsidiary companies specialise in voice, high-speed internet, corporate data solutions, and television for residential and corporate customers. www.keytech.bm
Media Contact:
Elizabeth Tee
Troncossi Public Relations
Telephone: 292-5838
Email: liz@troncossi.bm