454:, owed €4m by Smart, including arrears of €1.7m, ceased providing wholesale services to Smart Telecom. The result was that the majority of Smart Telecom's customers could not make outgoing calls (except for emergency numbers). According to RTÉ news at the time almost 45,000 customer voice lines were cut off, and Eir was in the process of disconnecting approximately 17,000 broadband customers. Smart issued a notice on their website stating that full service would be restored as soon as possible but declined to give any date for such a restoration.
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Oisin
Fanning, chief executive resigned from this position on 9 September 2006 on health grounds. Further senior resignations also took place. The acting chief executive, Ciaran Casey, then carried out an in-depth financial review of the company as a further investment of €30 million was sought.
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Details of a strategic review, published on 22 September 2006 meant that the employee cohort would be cut from 348 to c100, additional loan funding was to be provided by major shareholders and the company would divest its payphone and pre-paid call card businesses so as to focus on its corporate and
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Smart
Telecom (SMR.L) shares traded at 9c in early September 2006, less than two-thirds of their flotation price. Sales for 2006 reached €60 million – up from €45 million in 2005. However losses of €23 million in 2005 were eclipsed by losses of €35 million in 2006.
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fired 26 of them abruptly on 31 August 2006. This took place in the context of unmet sales targets of 64,000 sign-ups, aggravated by Smart being unable to get its equipment into many Eir exchanges which meant that Smart had no product to sell in many parts of
Ireland.
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Revenue in the six months to the end of 30 June 2006 dropped 15% to €20.3 million. There was a 61% increase in administrative costs leading to a loss, before exceptional items, of €17.9 million and an operating loss up to €31 million.
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The 3G spectrum access fee was set at €114.3 million, with an annual spectrum fee of €2.2 million and an administrative fee of up to €300,000 a year. Taking on a 3G licence would have required substantial capital investment by Smart.
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already had secured a 3G mobile phone network licence. Acceptance of the licence would have required Smart Mobile to launch its services by 30 April 2007, with 33 percent demographic coverage by 31 October 2009 and 53 percent coverage by 2011.
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due to a failure by Smart to provide a €100 million performance guarantee bond in a form acceptable to it within the specified deadline. There was a significant drop in the companies share price subsequently. Smart appealed the decision.
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In an email to customers on the same day, restoration of telephone and broadband services was announced along with a free upgrade of 3 Mbit/s to all broadband customers for the remainder of 2006 as a token of their appreciation.
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On 9 November 2005 Smart
Telecom announced that it had raised €55.2 million in new funding. This involved a placing of new ordinary shares at a price of €0.20 per share and a debt equity conversion of €10.8 million.
162::SMR) was an Irish telecom operator that started as a phone card seller. It was also the third largest provider of cost-sensitive telecom services sector in Ireland, behind the incumbent operators
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in August 2009 with an internal examiner reviewing their debts revenue and business structure. Smart
Telecom were in debts of up to €70 million to creditors and in loans.
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At the end of
Quarter 1, 2006 there were 322,000 broadband subscribers in Ireland, 35% of internet subscription. Broadband accounted for 19% of all internet subscriptions.
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Later prospects were defined by the achievement of substantial growth in broadband sales volume and eliminating losses, heralded promises which stakeholders, including
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ruled that its referential bid – based on a formula equivalent to the highest bid received +5% was not valid, because RTÉ terms of offer did not permit this.
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Comreg then announced an interim measure where phone lines to Smart customers were reconnected and they were given the option to join other providers.
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to sell all international mobile operators; however on 21 July 2005 it was announced Smart
Telecom had withdrawn, leaving the company to be bought by
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The chairman of the company, Raymond Kings, stated that
Brendan Murtagh, the largest shareholder in the company would continue to provide short-term
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It was said that Smart had a fair chance of coming out of examinership but also had 2 new investors that would be willing to invest in the company.
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announced their intention to purchase Smart. The full takeover took place in early 2010 and the company was officially dissolved in March 2011.
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Shortly afterwards, then-Communications
Minister Noel Dempsey called on Eir to reconnect a full telephone service to Smart customers.
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to promote and market broadband door-to-door, some up to five months earlier, the Chief executive of Smart
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Smart Telecom continued operations as normal with no effects to any of its customers during this period.
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On 16 November 2005 Smart Mobile was offered the country's fourth 3G mobile phone network licence.
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Light Reading Europe – Services Software – Thomson Wins Irish IPTV Deal – Telecom News Wire
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provider. It also announced that it was investing in an MPEG-4 head end for its own
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In September 2007, Smart announced their takeover of e-Nvi, a Dublin-based
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Smart Telecom to exit Examinership through investment from Digweb
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service; the vendor was confirmed as Thomson.net in October 2007.
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Smart Holdings Ltd lost a bid to sponsor the weather forecast on
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Telecommunications companies of the Republic of Ireland
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Smart Telecom acquires Envi, invest in triple play IPTV
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Smart was also a bidder for the Irish mobile operator
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Backbone services were available to users in parts of
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615:O'Neill, Sean; Hamilton, Fiona (3 September 2006).
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349:But this licence was withdrawn in February 2006 by
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507:In November 2009, the Irish broadband supplier
468:It was revealed on Friday, 6 October 2006 that
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712:"RTE News for Smart telecom examinership 2009"
742:Telecommunications in the Republic of Ireland
637:"Fanning to step down from troubled Smart"
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553:"Smart Telecom offered fourth 3G licence"
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651:"Ireland's Smart Telecom slashes jobs"
485:Smart Telecom Examinership August 2009
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393:Having head-hunted 49 managers from
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727:Irish companies established in 1989
657:. 22 September 2006. Archived from
567:"Smart loses weather forecast case"
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438:residential broadband businesses.
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732:2011 disestablishments in Ireland
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373:e-Nvi takeover and MPEG-4 headend
173:Smart operated several services:
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417:Chief executive resigns
489:Smart Telecom entered
16:Irish telecom operator
365:on 7 April 2006. The
190:Resilient Packet Ring
685:– From RTÉ business.
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102:broadband, landline
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661:on 8 January 2007.
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188:services across a
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145:smarttelecom
68:Headquarters
36:Company type
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617:"Get Smart"
537:3 September
383:Triple play
379:Triple play
240:Letterkenny
80:Area served
721:Categories
515:References
464:Resolution
411:Seán Quinn
367:High Court
331:O2 Ireland
320:local loop
260:Portlaoise
168:BT Ireland
90:Key people
625:. London.
335:3 Ireland
280:Killarney
264:Mullingar
252:Waterford
198:(to 2006)
196:Payphones
186:Telephony
74:, Ireland
698:Archived
589:Archived
276:Drogheda
236:Limerick
211:services
192:backbone
99:Products
44:Industry
655:Reuters
509:Digiweb
363:Glanbia
302:History
288:Clonmel
256:Wexford
232:Dundalk
140:Website
107:Revenue
84:Ireland
60:Defunct
52:Founded
47:Telecom
39:Private
672:RTE.ie
351:Comreg
308:Meteor
284:Tralee
268:Carlow
244:Galway
224:Dublin
164:eircom
135:(2005)
72:Dublin
532:(PDF)
470:BidCo
272:Cavan
248:Sligo
218:links
539:2006
333:and
286:and
228:Cork
209:IPTV
205:FTTH
184:and
166:and
452:eir
395:eir
361:to
359:RTÉ
316:eir
160:AIM
147:.ie
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158:(
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