Smart buys Envi assets

Smart Telecom has acquired the assets of media company Envi Communications.

Envi offers broadband, television and telephone services. The company's customer base will now be integrated by Smart and Envi staff will join the Smart payroll.

The deal does not include Smart's taking on any of Envi’s liabilities.

In a statement, Smart said: "Smart Telecom is now focused on data, broadband and VoIP services to the Corporate, SME and Residential sectors."

In June this year, Smart YuRoE Broadband Limited (SYB - formerly Calally) completed a refinancing package of the Smart Telecom group ahead of taking the company private. This followed events last year which hit the company's phone services.

In October last year, the High Court backed a Comreg decision to withdraw the offer of a 3G mobile licence to Smart in February 2006, after the company had problems paying a €100m bond.

At the time of its acquisition by Calally (now SYB), Smart had debts of €40m.