KeyTech to acquire Botcat Holdings

29 Jul 2014

Bermuda-based KeyTech Holding Limited, which owns Cayman Islands-based broadband operator Logic Cayman (WestTel), has announced that it has entered talks to acquire Botcat Holdings, the parent company of domestic telecoms operator WestStar. A press statement read: ‘Botcat owns WestStar TV Limited in Cayman and a significant interest in CableVision Holding Limited in Bermuda. Following completion of the acquisition, KeyTech will have a controlling interest in Bermuda CableVision Limited’. The transactions will be subject to a number of conditions, including regulatory approvals from the relevant authorities in both Bermuda and the Cayman Islands.

KeyTech CEO Lloyd Fray said: ‘We are excited about these transactions as they are the right strategic fit for the long-term growth of the company. It allows our group to expand and focus its investments, [and is] in the best interest of all stakeholders, in both Bermuda and Cayman.’

Further, local news source Cayman 27 reports that KeyTech intends to enter into a simultaneous agreement to sell 100% of its interest in Bermuda Telephone Company Limited (BTC) to Barrie OpCo Limited, an investment group with extensive experience in the telecoms sector.

Bermuda, Cayman Islands, Bermuda Telephone Company (BTC), Logic Communications, WestStar