Incumbent operator Monaco Telecom first announced plans to purchase the company for an enterprise value of €250 million in December 2019 at the time valued at approximately the equivalent to FY19 multiples of 7.8x earnings before interest, tax, depreciation and amortisation (EBITDA) and 13.1 operating free cash flow (OpFCF).
With the transaction having completed in April, the company said, “the brand name Epic launches a new era for the company, as well as for the country’s telecommunications”.
Adding that “the new brand promises to deliver an epic communications experience by bringing together two powerful features: a state-of-the-art network along with great value. This is reflected in the brand’s tagline: Great Network. Great Value. A proposition that brings together the best elements in telecommunications and, for the very first time, Maltese consumers can enjoy both without making any compromises.”
Tamas Banyai (pictured), CEO of Epic shared the four main areas of change for the newly rebranded company tariffs, infrastructure, service portfolio expansion and customer experience.
“Today, we are mostly known for the quality of our mobile services. But for families, we are already offering home broadband including fibre. And for businesses we are providing internet bandwidth, telephony, data centre services, international connectivity and more. So, when we say great network and service from Epic, we mean that we are providing solutions for all the communication needs of our customers,” said Banyai.
“The company will be investing more into our customer service, building new digital tools to make it simpler and easier for customers to use Epic’s service. The company is also launching a new mobile application and a new web portal, which come with a simpler user interface and features to make our customers’ lives easier.”
Banyai also shared with the Times of Malta that these changes will not cause any disturbances for its customers and employees.
“If you are already with us, there will be no disturbance. If you want to change over to our new and improved packages you are also free to do so. As for staff, we are actually looking to hire new talent, so there is nothing to worry about there.”
Monaco Telecom is owned by the Principality of Monaco and French billionaire Xavier Niel’s firm NJJ Holdings.
