Press Releases


  • KeyTech Limited and CellOne Create New Full Service Telecommunications Offering

    May 4, 2016

    • Residential and Business Customers Get Enhanced Options and Value Pricing • New Capital Means Accelerated Investment in Bermuda and Cayman • Company will be Led by CellOne CEO Frank Amaral KeyTech Limited (“KeyTech”) and CellOne, a subsidiary of Atlantic Tele-Network, Inc. (“ATN”), announced today that the agreement to combine businesses has closed. The transaction, originally announced in October 2015, brings together CellOne’s premier mobile services and network with KeyTech’s Logic and Cablevision brands that provide extensive broadband Internet, telephone and video services. Together, the group will more efficiently deliver mobile, fixed and international telecommunication services across Bermuda. The group...

  • KeyTech Reports Earnings -Company Repositions as Full-Service Telecommunications Provider in Bermuda and Cayman and Strengthens Infrastructure-

    July 29, 2015

    The KeyTech Group of Companies today announces a total comprehensive loss from continuing operations of $1.9 million for the year ending March 31, 2015, compared with $1.7 million in the previous year. Net loss for the year from continuing operations was $15.9 million versus $2.1 million in the prior year. A loss of $18.6 million was attributed to the difference between proceeds from the sale and recorded net assets of BTC. “The last year was one of strategic positioning and growth for the company,” said KeyTech CEO Lloyd Fray. “KeyTech has positioned itself to offer robust triple-play services and corporate...

  • KeyTech Subsidiary Acquires Bermuda CableVision Shares -Bermuda CableVision to Merge with Logic-

    July 16, 2015

    The KeyTech Group of Companies today announces that its subsidiary has acquired 100 per cent of the issued shares of Bermuda CableVision. This will allow CableVision to be merged with Logic Communications Ltd. (“Logic”). Lloyd Fray, CEO, KeyTech Group of Companies, says: “This is a significant transaction for KeyTech and we are incredibly excited to be announcing this news today. The transaction positions Logic for future growth as it brings together Bermuda’s premier ISP and cable access providers. In order for these companies to meet growing consumer demand for high bandwidth products, one bill, and to expedite capital intensive projects...

  • KeyTech Six Month Earnings Report for Period Ended September 30, 2014

    March 24, 2015

    The KeyTech Group of Companies today announced a loss of $19.9 million for the six month period ended September 30, 2014, compared with earnings of $6.4 million for the same period in the prior year. The loss was related to the sale of BTC. KeyTech CEO, Lloyd Fray commented: “During the six month period ended September 30th, 2014, KeyTech was focused on the ongoing transformation of its operating entities. The telecommunications markets in Bermuda and Cayman were both faced with technological obsolescence and competitive pricing pressure. The Group’s subsidiaries and associates were also subject to constraints imposed by the Bermuda...

  • BOTCAT Acquisition – September 3, 2014

    September 8, 2014

    The KeyTech Group of Companies (KeyTech) today announces that its subsidiary, WestTel Limited (Logic Cayman), doing business in Cayman, has acquired British Overseas Territory Cable & Telecommunications, Ltd. (BOTCAT), a company incorporated in Cayman. BOTCAT owns WestStar TV Limited in Cayman and an interest in CableVision Holding Ltd. in Bermuda. Following completion of the acquisition, KeyTech will have a controlling interest in Bermuda CableVision Limited and a 100 per cent interest in WestStar TV. In addition, KeyTech has simultaneously sold 100 per cent of its interest in The Bermuda Telephone Company Limited (BTC) to Barrie OpCo Limited, for $30 million,...

  • KeyTech Declares Dividend

    March 27, 2014

    The KeyTech Group of Companies today announces a cash dividend of 9 cents a share payable on April 15, 2014, to shareholders of record as of April 3, 2014. The currently declared dividend rate of 9 cents per share is supported by the earnings of KeyTech’s core businesses. The dividend is reduced from a recent quarterly rate of 12 cents a share. This action has been taken by the directors of KeyTech in response to increased investment in its subsidiaries over the past year: KeyTech CEO Lloyd Fray says: “Although we achieved synergies during the year, the North Rock amalgamation...

  • KeyTech Announces Chairman Elect

    July 11, 2013

    As announced at the 2012 Annual General Meeting, Dr. James A.C. King will be retiring as Chairman of the KeyTech Group of Companies at the Annual General Meeting on July 26th, 2013. The Board of Directors of KeyTech has identified Gary L. Phillips, OBE, JP, CIArb to succeed Dr. King as Chairman. Michael Mello, Chairman of the Governance Committee for KeyTech, says: “I would like to thank Dr. King for his significant contribution and support as Chairman. He has led KeyTech through a huge period of change in the telecommunications industry and his leadership was invaluable.” Dr. James A.C. King...

  • Announcement of KeyTech’s results for the financial year ended 31st March 2013

    July 10, 2013

    The KeyTech Group of Companies concluded fiscal year 2012/13 with a profit for the year of $8.3 million versus $7.2 million for the prior year. “Despite continuing challenges due to the economy, we are pleased to have increased the Company’s profitability,” said KeyTech CEO Lloyd Fray. “The increase in net income is a result of the ongoing efforts of management to improve efficiencies and reduce operating expenses in our subsidiaries in addition to the success of our investments in associates. Over the past year we have positioned the company well for the future.  In Cayman, we acquired TeleCayman, which solidified...

  • WestTel to Acquire TeleCayman – 31st January 2013

    January 31, 2013

    WestTel Limited dba Logic has signed a Share Purchase Agreement to Acquire TeleCayman Limited 31st January 2013, GeorgeTown, Cayman Islands– The board of WestTel Limited doing business as Logic, approved a share purchase agreement to acquire TeleCayman Limited. TeleCayman is currently 100% owned by Bermuda-based Javelin Connections Bermuda Ltd. The acquisition is subject to regulatory approval from the Cayman Islands’ Information and Communications Technology Authority (ICTA). TeleCayman will be amalgamated with Logic after ICTA approval has been granted. “Logic is looking to solidify its position as the market leader for telecommunications in the Cayman Islands. With the purchase of TeleCayman...

  • Logic Launches Logic TV – 8th January 2013

    January 8, 2013

    8th January 2013, Grand Cayman. Today Logic officially launched LogicTV. LogicTV features Cayman’s most advanced TV experience. Features include HD channels, Picture-in-Picture channel preview, RestartTV, CatchupTV, TotalHome DVR, and Video On Demand to name a few. Mike Edenholm, Chief Executive Officer of Logic said, “LogicTV provides a unique interactive experience with an advanced technology, very different from the standard cable or satellite options commonly used today. LogicTV channels are transmitted over high speed fibre optics cables and are not affected by strong winds, lightning or heavy rain. Included in LogicTV packages are RestartTV and CatchupTV making sure that you never...

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