Logic, North Rock to merge

Logic Communications and North Rock Communications are merging with both companies retaining their brand names for the immediate future. But the new company will be a wholly owned subsidiary of KeyTech Limited, of which Logic was already.

The merger comes as Bermuda institutes telecommunications reform, which is intended to level the playing field by having one class of licence meaning all the companies will be able to offer Internet, local and long distance phone services. The reform is expected to bring lower prices to the consumer but is also expected to see companies go by the wayside. This has already seen Transact, which offered Internet service, purchased by cell phone provider Digicel last year.

Previously KeyTech company M3 Wireless merged with fellow mobile phone provider CellOne.

Lloyd Fray, KeyTech CE), said in a press release: “We are creating a stronger and more capable service provider out of two very complimentary businesses.

“This transaction will be beneficial for consumers and corporate clients. We are going to use our combined strengths in the market to deliver new products, better service, enhanced value, and more choice for our customers.”

“With the new Integrated Communications Operating Licenses that are being issued by the Regulatory Authority we recognized that we could be in a more competitive position and deliver greater value for our customers as a combined business,” commented Vicki Coelho, General Manager of North Rock Communications.

With the merger the company will trade under the name of Logic Communications Ltd., but will continue to operate initially under both the existing Logic and North Rock brands.

Vicki Coelho, CEO of North Rock Communications, will assume the role of CEO of the amalgamated Logic Communications Ltd. The amalgamated company said it will honour existing agreements, service plans, and pricing.

Mr. Fray said: “We are confident that, as we grow the service and product offerings, more and more customers will recognize the enhanced value. The combined businesses will allow for more efficient use of capital and funding for investment in new technologies and services. Customers will continue to enjoy residential Internet, Wireless Access, Local Telephone, and Long Distance services. Business customers will continue to have their dedicated Internet, MPLS, colocation, mail and web hosting.”

Over the next several weeks Logic and North Rock said they will communicate closely with customers, employees, and other stakeholders, to ensure a smooth transition for everyone involved.