Capstone has advised Green Dot, a telecommunications provider headquartered in Trinidad and Tobago, on its deal to sell a 51 per cent stake to One Caribbean Media.
The acquisition will allow Green Dot to accelerate subscriber growth and continue expanding into new markets.
Green Dot, headquartered in Port of Spain, Trinidad and Tobago, is a licensed telecommunications operator offering wireless ISP and subscription TV services to residential and business customers in Trinidad and Tobago, Grenada, and Suriname.
OCM is a regional media group quoted on the stock exchanges of Trinidad and Tobago and Barbados under the ticker symbol OCM.
The acquisition will close subject to expected regulatory approval.
Green Dot was established in 2004 and under the leadership of CEO Ketan Patel has grown to be an established telecom service provider. Green Dot is the third largest provider of digital television services and the leading ISP provider in Trinidad and Tobago. Since its founding, the company has also expanded into Grenada and Suriname and is in the process of expanding into other countries in the Caribbean region.
The acquisition will allow Green Dot to leverage OCM’s marketing expertise and resources to continue distributing exclusive content to a growing subscriber base. With OCM’s investment, Green Dot can accelerate subscriber growth and continue expanding into new markets. OCM will use Green Dot’s robust infrastructure and bandwidth to promote new media content and continue its strategy of diversification in the region.
Capstone advised Green Dot on the agreement including facilitating discussions between Green Dot and OCM and providing negotiations assistance.
“Our partnership with OCM is the next step in growing Green Dot and expanding throughout the Caribbean,” says Green Dot CEO Ketan Patel. “We are happy to have Capstone as our M&A advisor guiding us through the transaction. Their expertise, counsel and professionalism were instrumental in putting together the deal.”
“We are excited to help Green Dot continue expanding in the Caribbean. In partnering with OCM, Green Dot will execute on its strategic plan to grow in the region and bring innovative products and services to more customers,” says Capstone CEO David Braun.
“We are extremely pleased to invest in Green Dot and execute OCM’s diversification strategy. Working with the team at Green Dot and Capstone, we were able to put together a mutually beneficial deal that will help us grow strategically for years to come,” says Dawn Thomas, the CEO of OCM.
