Epic (Cyprus)

Last updated
Epic Ltd
FormerlyAreeba (2004-2007) [1]
MTN (2007-2019)
Company type Subsidiary
Industry Telecommunications
Founded2004;20 years ago (2004)
Founder Investcom
Headquarters
Nicosia
,
Cyprus
Number of locations
18 (2021)
Area served
 Cyprus
Products
Owner Monaco Telecom (100%)
Number of employees
300 (2021)
Parent Monaco Telecom
Website www.epic.com.cy

Epic Ltd (from 2004 to 2007 Areeba Ltd, and then from 2007 to 2019 MTN Cyprus Ltd [2] ), is a Cyprus based telecommunications service provider owned by Monaco Telecom. [3]

Contents

It is the second largest mobile network operator in Cyprus by number of subscribers, behind Cyta. [4]

In addition to its already established mobile network, the company is a provider of fixed telephony, broadband services and TV. [5]

History

Areeba (2004–2007)

The company commenced its operations in Cyprus in July 2004 as Areeba after being granted the second mobile telephony licence by the Cyprus Government. [6] In December 2004, Areeba introduced the first 3G network in Cyprus. [7]

MTN (2007–2019)

In September 2007 Areeba was rebranded to MTN after its parent company (Investcom) was acquired by the multinational telecommunications company MTN Group. [8] In March 2008, MTN upgraded its 3G network to support HSPA (marketed as 3.5G). [9]

In October 2008, the MTN Group and Amaracos Holdings entered into a partnership with Amaracos acquiring 49% of MTN Cyprus' stock. [10] In turn, MTN Cyprus acquired 100% of Infotel Ltd (Germanos chain of stores) as well as Otenet (Cyprus) Ltd, a fixed telephony and internet provider, [11] thus entering both the fixed telephony and internet service markets respectively for the first time. [12] In February 2013, the MTN Group reached an agreement with Amaracos Holdings to acquire the latter's share capital in MTN Cyprus, resulting in the MTN Group now possessing 100% of the shares in MTN Cyprus. [13]

In March 2015, MTN launched its 4G/LTE network, being the first alongside PrimeTel to introduce the first 4G networks in Cyprus. [14] In May 2017, MTN expanded its services to include subscription based TV by launching MTN TV. [15]

In September 2018, it was announced that Monaco Telecom (operating in the principality of Monaco and a member of NJJ Holding) had acquired the entire share capital of MTN Cyprus from the MTN Group for €260 million. [16] As a part of the deal Monaco Telecom was allowed to continue using the MTN brand name for three years in exchange for a commercial fee. [17]

In November 2018, MTN upgraded its 4G network to support LTE-A (marketed as 4.5G). [18] In May 2019, MTN announced the deployment of wideband audio for voice calls between its subscribers (also known and marketed as HD voice). [19]

Epic (since 2019)

In June 2019, Monaco Telecom retired the MTN brand name and renamed the company as Epic. [20]

In December 2020 Epic deployed VoLTE on its 4G network, becoming the first mobile network in Cyprus to do so. [21] In the same month Epic participated in the Cyprus Government's 5G licence auction, winning a licence enabling it to build and operate a 5G network. [22]

On 9 July 2021 Epic officially launched its 5G network. [23]

Marketshare

According to statistics released by the Office of Electronic Communications & Postal Regulations (OCECPR), as of March 2021, Epic is the second largest mobile network operator in Cyprus, after CYTA (which has a market share of 54.50%), controlling 33.80% of the market. [24]

Awards

Epic has won the following awards:

Awards Won by Epic (Cyprus)
AwardDate/PeriodAwarded by
Best Mobile Network in TestJune 2020, [25] March 2021 [26] umlaut
Fastest Mobile NetworkJan-Jun 2020, [27] Jul-Dec 2020 [28] Ookla
Fastest Fixed InternetApr-Sep 2023 [29] Ookla

Mobile Network Frequencies

Frequencies Used on the Epic (Cyprus) Network
Frequency (MHz)ProtocolClass
900 GSM-900 2G
1800 GPRS/EDGE 2G
900 UMTS/HSPA+ 3G
2100 UMTS/HSPA+ 3G
800 LTE/LTE-A 4G/4G+
1800 LTE/LTE-A 4G/4G+
2600 LTE/LTE-A 4G/4G+
700 5G NR 5G
3600 5G NR 5G

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References

  1. ↑ "Search Results".
  2. ↑ "MTN Rebrands as epic". www.goldnews.com.cy. Archived from the original on 2021-04-29. Retrieved 2021-04-28.
  3. ↑ "MTN Sells Cyprus Unit to Monaco Telecom as Pruning Starts". Bloomberg.com. 2018-07-16. Retrieved 2021-04-28.
  4. ↑ "Πρώτη η Cyta κι από κοντά η Epic στην κινητή". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2021-03-31. Retrieved 2021-04-28.
  5. ↑ "The Company". epic ltd. Retrieved 2021-04-28.
  6. ↑ "Scancom has six months to operate GSM services in Cyprus". Stockwatch - All about the economy. 2003-10-31. Retrieved 2021-04-28.
  7. ↑ "Η areeba παρουσιάζει δίκτυο 3G". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2004-12-01. Retrieved 2021-04-30.
  8. ↑ fm (2007-09-25). "Areeba changes name to MTN in Cyprus". Financial Mirror. Retrieved 2021-04-28.
  9. ↑ fm (2008-03-19). "MTN Cyprus launches 3.5G mobile broadband". Financial Mirror. Retrieved 2021-04-30.
  10. ↑ Jones, Candice (2008-10-20). "Expansion opportunity for MTN Cyprus". ITWeb. Retrieved 2021-04-30.
  11. ↑ "CTC: Acquisition of 100% of the shares of OTEnet Telecommunications and OTEnet (Cyprus)". Stockwatch - All about the economy. 2008-05-19. Retrieved 2021-04-30.
  12. ↑ fm (2008-10-17). "MTN aims to become leading telco in Cyprus". Financial Mirror. Retrieved 2021-04-30.
  13. ↑ "MTN's Cyprus stake bought back". www.iol.co.za. Retrieved 2021-04-30.
  14. ↑ "MTN, PrimeTel launch LTE in Cyprus; Cyta to follow suit in summer". www.commsupdate.com. Retrieved 2021-04-30.
  15. ↑ "MTN launches Cyprus TV service". Digital TV Europe. 2017-05-09. Retrieved 2021-04-30.
  16. ↑ "MTN Cyprus sold to Monaco Telecom for €260 m". in-cyprus.philenews.com. Archived from the original on 2021-04-30. Retrieved 2021-04-30.
  17. ↑ fm (2018-09-04). "TELECOMS: MTN Cyprus EUR 260 mln cash sale to Monaco Telecom is over the line". Financial Mirror. Retrieved 2021-04-30.
  18. ↑ "MTN has the Network with the Widest 4.5G Coverage in Cyprus". www.goldnews.com.cy. Archived from the original on 2021-04-30. Retrieved 2021-04-30.
  19. ↑ "Η ΜΤΝ προσφέρει κρυστάλλινο ήχο στις κλήσεις των συνδρομητών της, με High Definition Voice". ΠΟΛΙΤΗΣ (in Greek). 2019-05-15. Retrieved 2021-04-30.
  20. ↑ Staff Reporter. "MTN rebrands as epic | Cyprus Mail" . Retrieved 2021-04-30.
  21. ↑ "Epic elevates call experience with innovative VoLTE tech | Cyprus Mail" . Retrieved 2021-04-30.
  22. ↑ "Bidding process for 5G completed, first licences in January 2021". Stockwatch - All about the economy. 2020-12-17. Retrieved 2021-04-30.
  23. ↑ "Το Epic 5G ήρθε ξεκλειδώνοντας νέες εμπειρίες". Cyprus Times (in Greek). 2021-07-09. Archived from the original on 2021-07-09. Retrieved 2021-07-09.
  24. ↑ "Πρώτη η Cyta κι από κοντά η Epic στην κινητή". Stockwatch - Παράθυρο στην Οικονομία (in Greek). 2021-03-31. Retrieved 2021-04-30.
  25. ↑ "Epic awarded 'Best Mobile Network in Test' certification | Cyprus Mail" . Retrieved 2021-04-30.
  26. ↑ "New award by umlaut places Epic at the top again!". cyprustimes.com. Retrieved 2021-04-30.
  27. ↑ "Ookla named Epic "the fastest mobile network in Cyprus"". Tek Deeps. 2020-09-18. Archived from the original on 2021-04-30. Retrieved 2021-04-30.
  28. ↑ "Η Epic στην κορυφή των δικτύων κινητής της Κύπρου". Kathimerini Cyprus (in Greek). Retrieved 2021-04-30.
  29. ↑ "Fastest Fixed Network". Speedtest.net. Ookla (which owns "Speedtest.net"). 2023-11-07. Retrieved 2023-11-07.
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