KeyTech Subsidiary Acquires Bermuda CableVision Shares -Bermuda CableVision to Merge with Logic-
July 16, 2015
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.
Troncossi Public Relations