TSL sale to help with forex challenge

Stu­art Fran­co, the new­ly ap­point­ed chief op­er­at­ing of­fi­cer of Pro­duc­tive Busi­ness So­lu­tions (PBS)'s East­ern Caribbean Clus­ter, says the com­pa­ny's full ac­qui­si­tion of Trinidad Sys­tems Ltd (TSL) had more than a cash in­vest­ment be­hind it.

The Ja­maican com­pa­ny's ac­qui­si­tion of TSL was an­nounced on Sep­tem­ber 8. In an in­ter­view on Fri­day, Fran­co said the deal rep­re­sent­ed a strate­gic re­align­ment de­signed to dri­ve re­gion­al mar­ket ex­pan­sion and a nav­i­gate planned ex­ec­u­tive suc­ces­sion.

"What I would tell you is that the struc­ture wasn't on­ly about cash. The struc­ture had a lot more in­volved in it than cash. So when you go to look at it, you're not go­ing to tru­ly see all that's there. So there's a com­bi­na­tion of things that made it pos­si­ble," said Fran­co, who added that the deal would al­low TSL to mit­i­gate on­go­ing for­eign ex­change pres­sures, while al­so shar­ing re­sources where pos­si­ble to com­bat oth­er is­sues faced across the re­gion.