SOURCE: Columbus Communications

Columbus Communications

June 13, 2012 11:42 ET

Columbus International Inc. to Acquire TeleBarbados Inc., Facilities-Based Telecom Provider in Barbados

BRIDGETOWN, BARBADOS--(Marketwire - Jun 13, 2012) - Columbus International Inc. ("Columbus") is pleased to announce that through a wholly-owned subsidiary it has entered into a definitive agreement 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. The transaction includes the purchase of TeleBarbados Inc., Tele-St. Lucia Inc. and Wamco Technology Group Limited.

TeleBarbados owns and operates a fibre rich telecommunications network in Barbados and provides advanced voice and data services to a diverse retail and corporate customer base on both a wireless and a hard-wired basis. It holds a broad range of licenses as issued under the Telecommunications Act of Barbados to provide domestic and international voice services, backhaul bandwidth capacity services, Internet exchange services, managed data network services, virtual private network services, public Internet access services, fixed wireless telecom services, domestic and international telecom services, and various wireless spectrum services. Tele-St. Lucia holds a series of licenses issued under the Telecommunications Act of St. Lucia to provide similar services throughout St. Lucia.

Commenting on the transaction, Columbus chief executive officer Brendan Paddick said, "The acquisition of TeleBarbados marks a significant milestone in Columbus' entry into the Barbados telecom marketplace. Columbus plans 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, Columbus will be launching a series of corporate data, connectivity and IT services under the brand Columbus Business Solutions."

Paddick continued, "With our recently announced $225 million credit facility, Columbus is well positioned to make an immediate and significant direct investment in infrastructure in Barbados, resulting in the launch of a host of new advanced consumer and corporate services, the creation of hundreds of new high technology jobs and lower prices leading to a more competitive Barbados in the global economy. We welcome TeleBarbados' 60 talented professionals to the Columbus team and we look forward to serving its loyal customers for many years to come."

Columbus International Inc. 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 center hosting throughout 23 countries in the greater Caribbean, Central American and Andean region. Through its fully protected, ringed submarine fiber 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.

Forward-looking statements in this announcement are based on current expectations. These statements are not guarantees of future events or results. Future events and results involve some risks, uncertainties and assumptions that are difficult to predict. Actual events and results could vary materially from the description contained herein due to many factors including changes in the market for the Notes, changes in the business and financial condition of the Company and its subsidiaries, and changes in the debt markets in general.