Smart raises EUR55 million for expansion

11 Nov 2005

Irish operator Smart Telecom has raised EUR55.2 million to develop its network via the issue of 150 million new ordinary shares and a debt-for-equity conversion. Formed in 2000, Smart Telecom claims to be the fastest growing provider of residential, business and metro telecom services in Ireland. Traditionally a reseller of eircom’s voice telephony products, in February 2005 Smart launched its first LLU DSL service, rolling out a 2Mbps service in Dublin for EUR35 a month. The telco is deploying a Resilient Packet Ring (RPR), MPLS-based IP next generation network and plans to expand the service nationally.

Ireland