CHT Holdings Enters Negotiations to Acquire Dominican Cable TV and Internet Provider
FORT LAUDERDALE, Fla., July 5, 2017 (Newswire.com) - CHT Holdings is pleased to announce a letter of intent (“LOI”) to acquire a majority control interest in Servicios de Parabolica, Ingenieria Electronica y Communicaciones S.A (“Servicios de Parabolicas”) in the Dominican Republic for an undisclosed amount.
Servicios de Parabolicas is a licensed cable TV & Internet service provider located in the east coast of the Dominican Republic, owning and operating a vast fiber optic network in the region. This acquisition will position CHT Holdings as a new promising player within the telecommunications capacity and infrastructure field. While new technologies emerge and demand for capacity becomes vital, this acquisition presents an enormous opportunity for CHT Holdings to continue adding value to an industry it has served for over two decades.
"As the Internet of Things (IoT) rapidly evolves, we have a responsibility to be prepared to support future capacity and speed needs, that will surpass well over one thousand times, what we have today. 5G will demand a new infrastructure, where smart antennas, ultra-dense deployments, device-to-device communications and expanded spectrum, including higher frequencies and improved coordination between base stations, will be fundamental elements of immediate future networks in order to support a technological explosion we are yet to experience. As a result, this is the first of many acquisitions that will reiterate our commitment to contribute to our industry and the well-being of society through our global Corporate Social Responsibility platform," said Harrison Vargas, CEO of CHT Holdings.
CHT Holdings is an innovative, forward-thinking technology conglomerate of enterprises incorporating sectors such as telecommunications, technology, real estate and education, with a mission to become experts in the industries the company serves.
Source: CHT Holdings