HALIFAX, Feb. 23 /CNW/ - The Bragg Group, parent company of EastLink,
announced today its expansion into the global telecommunications market
with the purchase of Cable and Wireless (Bermuda) Holdings Ltd. (CWBH),
a 121-year old Bermuda telecommunications operation with both
residential and business customers, owned by the UK-based international
telecom firm Cable & Wireless Communications Plc (CWC).
The purchase gives The Bragg Group its first presence in the
communications industry outside the country, following its growth
across Canada. Binding agreements were signed yesterday by the Bragg
Group and CWC, with closing to take place within a few weeks.
"This investment is a logical step for our company," said Lee Bragg, CEO
of EastLink and an Executive of the Bragg Group.
"Apart from being an excellent investment that we expect will provide
growth opportunities for many years, there are natural synergies
between Nova Scotia and Bermuda," he noted, pointing to the substantial
financial services industry that has developed between the province and
Bermuda in recent years. "This is just one commercial sector that
relies heavily on up-to-date telecommunications infrastructure to
transfer large quantities of data quickly and securely. I expect our
new relationship with Bermuda will lead to many other business
opportunities for our Company both in Bermuda and in Canada".
Bragg added, "Ann Petley-Jones will be the CEO of the Bermuda
businesses. During the transition period, the Bermuda companies will
operate as they do today, with the same employees, local management,
processes and contact points. Management support and certain support
services from Guernsey and London, will now be repatriated to Bermuda.
Following the transition, we will build on CWC's long history in
Bermuda, as well as the Bragg Group's reputation for reliability,
innovation and high-quality products, supported by superior customer
service, to provide additional telecom and e-Commerce services to
Bermuda businesses and consumers".
Bragg said his company has been impressed by the Cable and Wireless
operations. "CWBH, with its subsidiary companies and Quantum
investment, have been great businesses for CWC. We look forward to
using our experience and expertise to further develop a full range of
communications services for our new customers in Bermuda."
"I am confident that we are passing the business on to an owner that has
the expertise and entrepreneurial drive to further enhance the delivery
of telecom and e-Commerce services in Bermuda," said Eddie Saints,
Chief Executive Officer of Cable & Wireless Communications for the
Channel Islands and Isle of Man business unit, which owns the Bermuda
EastLink is the largest, privately held cable company in Canada.
At EastLink, creativity, ingenuity and innovation are the driving forces
behind our products and services. With more than 1,500 employees,
EastLink provides a range of communications, entertainment, television
and advertising services to residential, business and public sector
customers in Atlantic Canada, Ontario, Quebec, Alberta, Manitoba and
EastLink has the distinction of being the first cable company in Canada
to enter the telephone market, and the first communications and
entertainment company in North America to combine cable, Internet and
telephone service in a communications and entertainment bundle.
EastLink is one of the fastest internet providers in North America.
EastLink has been recognized as one of Canada's 50 Best Managed
Companies for the past five years, and its parent company, the Bragg
Group, was named Canada's Family Enterprise of the Year for 2009. For
more information on EastLink, please visit eastlink.ca.
For further information:
Jill Laing, Public and Media Relations
T: (902) 446-1939 M: (902) 488-5283