Cable Bahamas Acquires SRG's Internet Firm
Paul Hutton-Ashkenny, SRG's president, last night told The Tribune that the agreement 'makes sense for all parties'
Systems Resource Group (SRG) last night announced it had sold its Bahamas On-Line Internet subscriber base to Cable Bahamas for an undisclosed sum, in a deal that will it to focus solely on rolling out its fixed-line voice technology services with the first customers set to go live "in a matter of weeks".
Paul Hutton-Ashkenny, SRG's president, last night told The Tribune that the agreement "makes sense for all parties", with the capital his company receives from the deal going towards funding the telecommunications network build-out of its DigiTel subsidiary.
In return, the acquisition of Bahamas On-Line's Internet subscriber base will further strengthen Cable bahaamas' dominance over the Bahamas Telecommunications Company (BTC) in the Internet market, although this is something the incumbent carrier is disputing.
Cable Bahamas earlier this year claimed to have a 60 per cent Internet market share, a statistic supported previously by SRG's own projections, which predicted that the company would enjoy market share of 63 per cent at the end of 2004, with BTC having the remaining 37 per cent.
Source: Neil Hartnell, The Tribune