BRIDGETOWN, Barbados, Thursday, September 13, 2012 – Columbus International has received formal approval to complete its acquisition of TeleBarbados Inc. and all necessary licenses to provide wholesale and retail broadband services for residential and commercial customers.
This announcement was made in a video address by Brendan Paddick, chief executive officer of Columbus Communications during the Caribbean Telecommunications Unit ICT Roadshow at the Lloyd Erskine Sandiford Centre in Barbados, which concludes today.
Paddick revealed that Columbus plans to make an US$80 million investment in Barbados over the next three years to support this new business.
“Barbados’ high quality infrastructure, excellent workforce and reliable institutions provides the foundation for Barbadians to use technology to transform their country.” He continued, “Having effectively lowered telecommunications costs, provided affordable access and forced existing players to raise their game in every market we have entered, Columbus is eager to replicate the same success in Barbados.”
Back in June, Columbus announced that it had entered into a definitive agreement through one of its subsidiaries to acquire all of the issued and outstanding shares of Antilles Crossing (Barbados) IBC Inc. and Antilles Crossing Holding Company (St. Lucia) Limited from Caribbean Fibre Holdings, LP. This transaction would make Columbus the new owner of TeleBarbados Inc., Tele-St. Lucia Inc. and Wamco Technology Group Limited.
At that time Paddick stated that Columbus planned to invest heavily in Barbados over the next 24 to 36 months to offer consumers the full triple play of broadband Internet, digital landline telephone and advanced Internet protocol based video services under the brand name FLOW. In addition, he promised that Columbus would be launching a series of corporate data, connectivity and IT services under the brand Columbus Business Solutions.
Over the past eight years, Columbus has reportedly invested well over US$1 billion in its subsea and terrestrial networks, which now span 23 countries. The network powers Columbus’ retail brands: Flow, a consumer-focused triple-play video, broadband and voice provider, and Columbus Business Solutions, which offers business class ICT solutions.
Columbus is a privately held diversified telecommunications company based in Barbados. The Company operates in Trinidad, Jamaica, Grenada and Curacao and provides digital cable television, broadband Internet, digital landline telephony under the brand name, Flow and corporate data services under the brand, Columbus Business Solutions. Through its wholly owned subsidiary, Columbus Networks, the Company provides capacity and IP services, corporate data solutions and data centre hosting throughout 23 countries in the greater Caribbean, Central American and Andean region. Through its fully protected, ringed submarine fibre optic network spanning close to 18,000 km and its 21,000 km terrestrial fibre and coaxial network, Columbus’ 1,900 plus employees provide advanced telecom services to a diverse residential and corporate client base of close to 500,000 customers. Click here to receive free news bulletins via email from Caribbean360. ( )