By Al Edwards, Business Co-ordinator 
Patrick Terrelonge
LOCAL INTERNET service provider and I.T. company InfoChannel, run by Patrick Terrelonge, is currently in negotiations with potential investors both locally and internationally.
This follows the announcement that Centennial has entered into a definitive agreement to sell its 40 per cent interest in InfoChannel. Mr. Terrolonge told the Finncial Gleaner that he had the first option to purchase Centennial's interest and was currently holding talks with a number of interested parties.
Earlier this week, Oceanic Digital Communications (ODC) acquired the remaining 51 per cent interest in Centennial Digital Jamaica (CDJ) from Centennial Communications and outlined plans for its cellular operations in Jamaica.
Oceanic Digital was originally granted the licence to operate in Jamaica in 2000 at a cost of US$47.5 million. It later partnered with Centennial to establish an advanced CDMA wireless network in conjunction with Lucent Technologies.
Two years ago Centennial pumped in J$215 million into InfoChannel, taking a 40 per cent stake in the local Internet service provider company.
Speaking to the Financial Gleaner, Mr. Terrelonge said: "The decision by Centennial to pull out of Jamaica is no reflection on the Jamaican market which is very buoyant. Rather it has chosen not to grow through acquisitions and stick to core markets. It is no secret that Centennial Communications is having a hard time of it."
Last month, Centennial's chief executive officer Micheal J Small announced a write-down of its Jamaican assets, as well as certain non-Caribbean undersea fibre optic cables, totalling US$34 million.
Mr. Small said: "The sale of our Jamaican businesses will immediately reduce our consolidated debt level by US$45 million, eliminate the need to invest additional capital. Equally important it allows our talented group of associates to focus its efforts on our core operations in the United States, Puerto Rico and the Dominican Republic." InfoChannel, the first company in the Caribbean to offer a commercial Internet service has made its presence felt on the local market, indeed it has been in acquisition mode. In February it acquired COLIS, one of the oldest Internet Service Providers (ISP) in Jamaica. COLIS marks the third acquisition by InfoChannel since it secured World Telenet International in June 2001 and Jamaica On-Line Information Services whose Internet business was acquired in September of that year.
Formed in 1995, InfoChannel has now upgraded its network and now has access to the new high speed broadband Asymmetric Digital Subscriber Line (ADSL).
InfoChannel has a staff compliment of 35, of which 30 are Jamaican tertiary graduates. Of that number most are aged between 22 to 32.
