Bermudan internet service providers (ISPs) Logic Communications and North Rock Communications are reportedly looking to merge and trade under the Logic Communications name, although both firms will retain their individual brands for the short-term. According to a number of local press reports, the new enlarged company will be 100% owned by KeyTech Limited – which already owns Logic Communications. The tie-up comes at a time when the Bermudan Regulatory Authority (RA) is looking to level the playing field by replacing segmented licensing with a unified single licence, the Integrated Communications Operating Licence (ICOL), allowing service providers to offer a full suite of integrated telecoms products, including internet, local and long-distance phone services and mobile.
Commenting on the merger, KeyTech chief executive officer Lloyd Fray said: ‘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.’ The CEO’s position was echoed by North Rock’s Vicki Coelho, who noted: ‘With the new Integrated Communications Operating Licences that are being issued by the Regulatory Authority we recognised that we could be in a more competitive position and deliver greater value for our customers as a combined business’. Ms Coelho, the chief executive at North Rock, will assume the same role of the amalgamated company, which has said it will honour all existing customer agreements, service plans, and pricing.