"This agreement will enhance Logic's place in the local telecommunications market as a fully integrated advanced communications and information technology company," said Logic president, Peter Durhager. "Logic is now even better positioned to pursue a wide variety of high- value opportunities posed by the explosive growth of the telecommunications market. BTC's resources will add significantly to Logic's already formidable technological and business resources, positioning Logic to remain a leader in Bermuda's advanced communications and information technology industries."
BTC spokesperson Karla Lacey-Minors added, "The benefits of this merger are impressive for the stockholders of both BTC and Millennium. This merger is about growth-enhanced products and services for customers, growth of Bermuda's information economy and value for stockholders."
Logic will continue its operations at Richmond House on Par-la-Ville Road in Hamilton. Peter Durhager, will remain at the helm of Logic.
A separate board of directors for Logic Communications will preserve its operational autonomy. Logic will continue to focus on expanding its comprehensive range of advanced communications services while BTC will concentrate on strengthening its infrastructure and delivery throughout the country.
Logic was formed in November 1997 when Bermuda companies Business Systems Limited and Internet (Bermuda) Limited combined operations. "We are an innovative company that actively seeks the latest technology to integrate into our service offerings," said Durhager. "We look for exciting new technologies that we can bring to the Bermuda market."
Lacey-Minors agrees. "BTC serves the entire island of Bermuda. As we continue to enrich our infrastructure and basic services, Logic will use them to increase its offerings of value-added services, which now include global Internet access, low-cost international faxing, international frame relay service and solutions-based systems integration. The range of services offered by BTC in conjunction with those offered by Logic will effectively result in a €˜one-stop communications shop' for every household and business in Bermuda."
Millennium International Limited will continue to pursue its strategic mandate of keeping abreast of innovations and investing in state-of-the-art technologies. The agreement with BTC will not affect Millennium's Bahamian subsidiaries, Digital Systems (Bahamas) Limited and Internet (Bahamas) Limited. Durhager will continue in his position as President & CEO of Millennium.