Smart Telecom joins Digiweb Group and exits Examinership Process

Investment from Digiweb secures future of Smart and creates the leading independent Irish owned telecommunications company Dublin, Ireland, 8 December, 2009 – Smart Telecom (“Smart”), an Irish provider of voice, data and media communications services, today announces that the Irish High Court (the “Court”) has approved a range of proposals which will enable Smart to exit the Examinership process as a viable member of the Digiweb Group. Smart will continue to provide telecommunications services to Irish residential, business and public sector customers. The effective date of the exit is Friday, 11 December 2009. Smart entered the Examinership process on 31 August, 2009 in order to restructure its balance sheet and to secure a strategic investment.  The proposals approved by the Court include a restructuring of Smart’s balance sheet and the acquisition of the entire business and residential customer base and assets of Smart by Digiweb, the national telecommunications and managed services provider. The transaction brings together two EBITDA positive businesses with annual revenue approaching €40 million and over 150 employees. The enlarged Digiweb Group becomes the leading, independent Irish telecommunications company and significantly enhances the scale and scope of the combined Digiweb-Smart service offering. Smart Telecom employees will move during December to Digiweb’s Blanchardstown head office. Brendan Hunt, CFO, Smart Telecom said: “We are delighted to have achieved this restructuring combined with an investment from Digiweb which has resulted in our successful exit from Examinership. Smart emerges with a substantially stronger balance sheet and operating profile. The business will be EBITDA positive and profitable and has no debt maturities for a number of years. The prospect of combining our...

Digiweb shakes up Irish telecoms with ‘Chatterbox’ voice and broadband service.

–  Irish consumers can now get unlimited calls to landlines in Ireland and the UK, plus 40 free minutes to Irish and UK mobile numbers at any time for just €39.99 per month –  Robust 4 Mbps broadband is included in bundle –  No installation fee for orders received in December –  No line rental required –  Chatterbox comprehensively beats Eircom on price, volume of calls and broadband speeds – Average consumer could save in excess of €300 per annum by switching to Digiweb Dublin, 1st December, 2009: Digiweb, the national telecommunications and managed services provider, today launched a new, low-cost voice and broadband bundle to consumers in Ireland for just €39.99 per month. The service called ‘Chatterbox’ includes unlimited calls to local, national and UK landlines, and forty minutes of free calls per month to Irish and UK mobile phones at both peak and off-peak times. It also includes a 4Mbps internet connection. Digiweb believes this comprehensive service offers the best value in the Irish market as the volume of free calls at all times to all areas of Ireland and the UK is unprecedented. In addition, Digiweb will offer free installs for all orders received during December. The Chatterbox phone and broadband bundle has many benefits for Irish consumers including the competitive price, free ‘peak time’ calls to anywhere in Ireland and the UK, and the faster broadband speeds. In addition, the service is not dependent on a fixed copper line which means that customers don’t need to pay ‘dead money’ into line retail or share busy DSL exchanges which can lead to poor quality internet connectivity....