Cincinnati Bell integrates CBTS, Cincinnati Bell Business Markets, targets new business opportunities
Cincinnati Bell (NYSE: CBB) has realigned its business services unit by combining its CBTS cloud services division with Cincinnati Bell Business Markets into one common division.
The telco said the "new" CBTS will have an integrated product portfolio and sales force to target new enterprise and mid-sized businesses services opportunities in its region.
John Burns, president and general manager of CBTS, said in a release that "CBTS will now offer an expanded catalog of communications and IT solutions" such as network upgrades, infrastructure management and security threat assessment.
CBTS serves a number of finance, health care, government and education, retail, manufacturing and hospitality companies.
News of the new CBTS should not be all that surprising. During the 41st Annual J.P. Morgan Global Technology, Media and Telecom Conference in May, Ted Torbeck, CEO of Cincinnati Bell, said the company was consolidating the CBTS business with its telco business.
"The immediate benefit is some cost reduction where we'll get about $5 million of savings, but the long-term value is you can now offer these same services and solutions we're selling to enterprises down market," Torbeck said. "We think right off the top there's a big opportunity of about $250 million in Cincinnati."
Torbeck added that the new strategy could also be a "platform to go outside of Cincinnati."
In the near-term, the service provider said it already realized about $1 million in cost savings and is on track to reach the $5 million goal by the end of this year.
- see the release
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