KeyTech Limited and CellOne Create New Full Service Telecommunications Offering

May 4, 2016

  • • Residential and Business Customers Get Enhanced Options and Value Pricing
  • • New Capital Means Accelerated Investment in Bermuda and Cayman
  • • Company will be Led by CellOne CEO Frank Amaral

KeyTech Limited (“KeyTech”) and CellOne, a subsidiary of Atlantic Tele-Network, Inc. (“ATN”), announced today that the agreement to combine businesses has closed. The transaction, originally announced in October 2015, brings together CellOne’s premier mobile services and network with KeyTech’s Logic and Cablevision brands that provide extensive broadband Internet, telephone and video services.

Together, the group will more efficiently deliver mobile, fixed and international telecommunication services across Bermuda. The group can now provide Bermuda a comprehensive suite of leading residential communication and entertainment services. Businesses will be able to take advantage of both CellOne’s island-best network coverage and Logic’s reliable and scalable network. Customers will have more efficient access to a full range of advanced services, along with more product options and highly competitive pricing.

KeyTech Chairman, Gary Phillips, said: “With this transaction completed, we can now compete for consumers’ and businesses’ full range of telecommunications needs. For years, our companies were separately investing in technology and infrastructure and offering best-in- class services. As a unified group, and with the benefit of additional capital from ATN, our investments will accelerate and lead to expanded services for customers and economic growth for Bermuda.”

CellOne CEO, Frank Amaral has been named CEO of KeyTech, and he will work with the new KeyTech Board to set the organization’s strategic direction and lead its day to day operations in Bermuda and Cayman. As COO and CEO of CellOne for seven years, Amaral has been instrumental in leading it to the highest customer satisfaction of any Bermuda telecom provider.

Lloyd Fray, current CEO, who steered KeyTech over the course of his thirteen years of service to the KeyTech group, to its current market leadership position, will step down as of May 16, 2016 with the very best of wishes from the KeyTech Board and the senior management team.

Amaral commented: “With the decades of experience within the KeyTech group and a local leadership team, we are ready to do even more to amaze customers through great service and enhanced product offerings. Over the coming months, Bermuda and the Cayman Islands will begin to experience the benefits of our collective operations. Our goal is to provide very efficient service, the most innovative options and highly competitive pricing.”

Gary Phillips continued: “The Board and I want to thank Lloyd Fray for his many years of service and we are grateful for the accomplishments under his leadership that made KeyTech attractive to this investment by ATN. We look forward to continued success under Frank’s leadership and direction.”

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