EEG and Celeritas Acquire TBi

EEG and Celeritas Acquire TBi

 

EEG and Celeritas Acquire TBi

The East End Group and Celeritas Limited Acquire TeleBermuda International Ltd.

The East End Group (EEG) today announced that it has partnered with Celeritas Limited (Celeritas) to acquire TeleBermuda International Limited (TBi), a Bermuda based provider of high-quality voice, internet and managed IT services. Bermudian-owned EEG is the proprietor of East End Telecom (EET), the leading public safety and wireless communication provider in Bermuda and the owner of the wireless ISP, Bluewave. Celeritas is a local telecommunication investment firm and a subsidiary of the Mayfair Group.

This acquisition ensures that TBi will continue to provide the highest level of service to their clients, and more importantly, remain a Bermudian owned company. The purchase also offers the opportunity to leverage synergies between EET, TBi and Bluewave, Bermuda's newest high- speed wireless internet service provider. The aim is to build on each company's core competencies to solidify their positions as consistent providers of innovative products and services.

To ensure a seamless transition for TBi clients, its current President Greg Swan will be retained during the transition period. TBi clients will be directly contacted regarding this acquisition. It is anticipated that the immediate impact on their accounts will be insignificant.

BACKGROUND

The East End Group is a diversified holding company with business interest spread among different lines of business. This strategic diversification spreads the Company's risk and helps the Group to achieve economic benefits. East End Telecom (EET), a wholly owned subsidiary of East End Group Ltd. (EEG), is the leading public safety and wireless communication provider in Bermuda and the owner of the wireless ISP, Bluewave. Bluewave provides affordable high-speed internet to the community. EET has been operational for 49 years. Its main customers are the Bermuda Police Service, the Bermuda Fire Service, and the Bermuda Government for which it provides mission-critical wireless radio communication

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