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Epic (Cyprus)

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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]

Epic Ltd
FormerlyAreeba (2004–2007)[1]
MTN (2007–2019)
Company typeSubsidiary
IndustryTelecommunications
Founded2004; 20 years ago (2004)
FounderInvestcom
Headquarters
Nicosia
,
Cyprus
Number of locations
18 (2021)
Area served
Cyprus
Products
OwnerMonaco Telecom (100%)
Number of employees
300 (2021)
ParentMonaco Telecom
Websitewww.epic.com.cy

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

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Areeba (2004–2007)

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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)

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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)

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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

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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

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Epic has won the following awards:

Awards Won by Epic (Cyprus)
Award Date/Period Awarded by
Best Mobile Network in Test June 2020,[25] March 2021[26] umlaut [de]
Fastest Mobile Network January–June 2020,[27] July–December 2020[28] Ookla
Fastest Fixed Internet April–September 2023[29] Ookla

Mobile Network Frequencies

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Frequencies Used on the Epic (Cyprus) Network
Frequency (MHz) Protocol Class
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

References

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  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.{{cite web}}: CS1 maint: unfit URL (link)
  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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