CWC AGREES TO ACQUIRE COLUMBUS INTERNATIONAL INC. TO ACCELERATE GROWTH STRATEGY AND DELIVER SUPERIOR CUSTOMER SERVICE
Providenciales, 6 Nov 2014 (CABLE & WIRELESS NEWS RELEASE) –
The combined business will:
Deliver broader pro-consumer product offerings and improved services
Inject state of the art TV and next-generation super-high-speed broadband technology into CWC
Deliver huge opportunities to the Business and Government sectors
Provide rapid lead in fixed mobile convergence through premier network platform
Cable and Wireless Communications PLC (CWC) has reached a conditional agreement to acquire Columbus International Inc. The proposed acquisition, valued at US$3.025bn will enable the combined company to significantly accelerate its growth strategy, improve service delivery to customers in the region, offer customers a comprehensive portfolio of high-quality products and services, and strengthen their position against larger competitors. The increased scale and capabilities of the combined company will provide the technical platform and financial capacity to help enable CWC to drive greater innovation and expand our geographic footprint.
The combination of the two companies is consistent with global industry trends, where convergence of fixed and mobile networks, increasing content consumption growth, and continuing development of online applications are driving requirements for high bandwidth, fixed line networks and TV capabilities. Operators in Europe and North America, as well as regional competitors, are acquiring and constructing networks that are capable of supporting ever-growing data needs along with new video capabilities. The combination of the two businesses supports CWC’s new strategy and its four primary areas of focus: Drive Mobile Leadership; Accelerate Fixed-Mobile Convergence; Reinforce TV Offer; and Grow Business to Business and Business to Government sectors. This strategy is underpinned by CWC’s announced US$1.05billion Project Marlin capital investment programme. Additionally, CWC believes that the combination of the two businesses will generate material operating cost and capital expenditure synergies. Similarly, Columbus believes that the combined strengths of both companies will accelerate growth, provide the necessary scale to enhance the customer experience, and help to allow Columbus to achieve its goal to become the “Best service provider” and “Employer of Choice” in the region.
The proposed combination of CWC’s region-leading mobile footprint and existing fixed line infrastructure with Columbus’ pay TV capabilities and next-generation, state-of-the-art fibre networks will significantly expand the product and service offerings for customers and also advance the companies’ quad play ambitions. The combined business will also deliver the benefits of superior quality network infrastructure, fixed-mobile products and bundles, superior TV content at competitive rates, and a more attractive portfolio of products and services in the B2B and B2G segments.
Phil Bentley, CWC’s Chief Executive Officer said: “This is a transaction that transforms CWC, providing a step-change in growth and returns. Columbus offers complementary TV, Broadband and B2B capabilities in complementary markets. Together, we will create the best-in-class quad-play offering in the region, delivered on a superior mobile, fibre and subsea network. This is a significant opportunity to better serve our customers and improve the ICT infrastructure of the communities in which we operate, whilst accelerating our strategy and delivering materially enhanced returns and synergy benefits.”
Similarly, Columbus’ chairman and CEO, Brendan Paddick indicated that, “Together we will form a truly world-class company focused on our customers in the Caribbean, Central America and the Andean regions. The proposed acquisition makes both companies stronger, faster and smarter in competing with their larger competitors. The proposed transaction reinforces our commitment to transform connectivity in the region, to increase the attractiveness of the region to investors, to support the growth of the communities we serve by making them more globally accessible and to ensure that our customers always have access to the best products and services available.”
For both companies, the proposed acquisition also enables greater focus on the Caribbean, Andean and Latin American markets as a region that offers attractive growth. The proposed acquisition will provide new opportunities and focus in Colombia, Guatemala, Costa Rica, Honduras, El Salvador, Dominican Republic, Puerto Rico and Peru.
“Our goal is to provide customer-focused solutions and the highest level of service across the region. This agreement will accelerate our efforts through a strengthened set of assets and capabilities,” Bentley affirmed.
The recent acquisition of both Groupo Sonitel in Panama, combined with Columbus’ Lazus in acquisition in Colombia will accelerate CWC’s progress against the new streamlined strategy.
About Cable & Wireless Communications Cable & Wireless Communications Plc (CWC) is a full-service communications provider operating in 16 countries throughout the Caribbean and Latin America. Operating four leading businesses: – Cable and Wireless Panama, LIME, (the Caribbean excluding The Bahamas), BTC (The Bahamas) and Cable and Wireless Seychelles; CWC offers mobile, broadband, TV, domestic and international fixed line services in most of our markets serving over 5.6m customers. CWC also provides premium data centre hosting, telecoms, domestic and international managed data network services and custom IT Service Solutions to businesses and governments through the new unit, Cable & Wireless Business Solutions. Our mission is to grow customer relationships and lifetime value by becoming #1 for Customer Service. We are the market leader in most products they offer and territories they serve. For more information visit: www.cwc.com
About Columbus International Inc.
Columbus International Inc. is a privately held diversified telecommunications company based in Barbados. The Company provides digital cable television, broadband Internet and digital landline telephony in Trinidad, Jamaica, Barbados, Grenada, St. Vincent & the Grenadines, St. Lucia and Curacao under the brand name Flow and in Antigua under the brand name Karib Cable. Columbus also provides next generation connectivity and IT solutions, managed networking and cloud-based services under the brand Columbus Business Solutions. Through its subsidiary, Columbus Networks, the Company provides capacity and IP services, corporate data solutions and data centre hosting throughout 42 countries in the greater Caribbean, Central American and Andean region. Through its fully protected, ringed submarine fibre optic network spanning more than 42,300 km and its 38,000 km terrestrial fibre and coaxial network, Columbus’ 3,150 plus professionals provide advanced telecom services to a diverse residential and corporate client base of over 700,000 customers.
For more information visit www.columbus.co
Branch out and Tap in to greater Financial Opportunities says Robert Hall
By Dana Malcolm
#TurksandCaicos, March 24, 2023 – Teachers in The Turks and Caicos need to be allowed to market their skills to the private sector, broadening their earning potential and likely enhancing their tenure as teachers, also attached to the Turks and Caicos Islands Government.
Robert Hall, a former Minister of Education made the edgy suggestion at an Education Week Symposium which was carried live on the TCIG’s Facebook page.
“For instance, a good music teacher, rather than simply training voices why not get into the entertainment field?”
Home Economics teachers and Technical Drawing teachers and similarly talented individuals should break into the industry and tap into the Turks and Caicos’ multi-million-dollar clientele.
“Why not offer the service and you can do that at a cheaper rate. In each case whether it is the Home Ec teacher, the TD teacher or woodworking teacher; pull some of your students along with you into those areas,” he urged.
The presence of local job experience programs aside, what Hall is suggesting, should it be carried out, could put local teachers and students in the direct path of mega successful hoteliers, architects, artistes and more. Some of the most successful people in the world frequent the Turks and Caicos and there have been several occasions where residents have their talents recognized and honed by investors.
It is well known that the late Prince, a multi-award-winning singer, songwriter and producer, gave unique opportunities to Quinton Dean in music and Frank Forbes in culinary arts; one touring with him and the other his personal chef. Forbes was also a personal chef to music and movie star, Tyrese. More recently, recording artist Jenardo Laporte was handed a whopping $20,000 by global music mogul, Drake, when he demonstrated undeniable talent.
Robert Hall is a firm believer. He says that through branching out, educators would be able to seriously help themselves financially.
Illegal immigration, still a real threat in TCI
Tenders Published for Credit Union, South Caicos Port, K-9 Unit and Public Sector Pay Raise
By Dana Malcolm
#TurkandCaicos, March 24, 2023 – Contracts are now up for grabs as some long-awaited projects are poised to get started with funding allotted, and projects in need of companies to execute them; they include, the investigation into another pay increase for public servants, the new credit union, and development in South Caicos.
A suite of tender documents was officially published earlier this year for upgrades including the South Caicos Port Dredging Project.
The South Caicos Channel has not been properly maintained since it was initially constructed. The project aims to restore navigability to the port and increase the vessel, and barge sizes (tonnage capacity) with access to the port according to the government’s tender.
The TCIG says this is to reduce the costs of imports as the fully loaded barges reduce costs of goods and materials to residents, local businesses, and existing and future commercial development interests at South Caicos.
The Office of the Deputy Governor has also opened a tender to reassess payment for all public servants.
A consultant is being sought to do a grading review for the entire sector of which the Deputy Governor is in charge. The Government introduced a pay increase of 10 percent for public servants last year. However, most of that was not cash in hand as it went to a new retirement fund.
The tender follows the increase of the minimum wage in February, to 8 dollars an hour.
Next up is the new National Credit Union which the Ministry of Finance, Investment and Trade is hoping a consultant will step up to establish. The Credit Union is aimed at expanding financing options for residents beyond commercial lenders.
Customised vehicles are also being brought in for a brand-new K-9 unit at the Department of Customs. Late last year, K-9 Units were used at the nation’s ports and were successful in detecting and thwarting efforts to smuggle illicit drugs into the Turks and Caicos Islands.
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