February 27, 2011
Cable & Wireless selling Bermuda business
HAMILTON, Bermuda, Thursday February 24, 2011 - Cable & Wireless Communications (CWC) is selling its operations in Bermuda to a family-run Canadian cable and telecommunications company in a US$70 million deal.
Once the sale to The Braggs Group gets government and regulatory approvals, it's expected to be finalised by the end of next month, at which time the new owners say they'll keep the same employees and local management.
"In fact, we expect to increase local Bermudian employment in the near future," it said in a statement yesterday.
News of the sale comes two weeks after CWC reported that its Caribbean operations continue to suffer, at the same that it announced it had signed the final agreement to acquire majority control of Bahamas Telecommunications Company Ltd (BTC).
February 10, 2011
DIGICEL ACQUIRES NETXAR TECHNOLOGIES
Businesses across the Caribbean and Central America to benefit from the region's newest ICT powerhouse
Tuesday 8 February 2011 - Kingston, Jamaica: Digicel, the Bigger, Better Network has taken a controlling stake in Netxar Technologies, the leading systems integrator in the Caribbean region, it was announced today.
Effective immediately, the two companies will work together to achieve even greater business success and market share as the region's newest Information and Communications Technology (ICT) powerhouse.
Netxar has built a fantastic track record and, as well as winning numerous regional and global awards, is also the proud holder of the Gold Certification, Master Unified Communication and Master Managed Service Partner and is a member of Cisco's elite 1% partners out of 64,000+ partners worldwide - vital in securing and serving top corporate and public sector customers. It is based in Puerto Rico and has operations in the Dominican Republic, Jamaica and Trinidad and Tobago.
Digicel meanwhile has been offering ICT solutions to businesses across the region since 2007. The company's promise of best network, best value and best service has seen Caribbean companies not only benefiting from greater efficiencies through more integrated communications, but also being able to reduce their ICT spend by between 30% and 40% on average.
President and CEO of Netxar, Frank Santiago, comments; "For years, corporate and public sector customers have been searching for a business partner who can deliver both world class telecommunication services and ICT solutions. Now, customers will benefit from technology solutions that leverage their IT framework as a competitive advantage while reducing operational costs and increasing productivity.
He continues; "The support and involvement of Digicel which, in ten short years, has had such a positive impact on the Caribbean communications space will see us delivering even better solutions to an even broader range of corporate customers."
Kevin White, COO of Digicel Group, comments; "Since we started focusing on delivering ICT solutions to Caribbean corporate customers in 2007, we have made big inroads and are proud to serve the Caribbean's biggest business names. In Jamaica for instance, Digicel serves over 70% of the corporate market.
He adds; "This will see us increasing our ICT presence across the Caribbean and Central America and offering customers a broader and deeper product portfolio backed by Digicel's award-winning customer service. Our customers are set to benefit from being with the region's newest ICT powerhouse."
Cable & Wireless Caribbean operations still troubled
LONDON, United Kingdom, Thursday February 10, 2011 - Telecommunications giant Cable & Wireless says its Caribbean operations continue to suffer amid adverse economic conditions and earnings won't increase in the second half of the financial year.
In a third quarter statement issued yesterday, Cable & Wireless Communications Plc (CWC) said it expected earnings by the end of the fiscal year in March to remain flat at around US$115 million.
"The one region that remains very difficult is the Caribbean where we see the market continue to be challenging with tourist spend and, hence, consumer and business disposable income significantly below historic levels," said CWC Chief Executive Officer Tony Rice.