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The MTN Group has concluded its acquisition of fibre networks company, Smart Village. One year after MTN disclosed its plans to acquire Smart Village from Multichoice, the telecoms giant has completed the acquisition of fibre Networks Company.
Smart Village is a multimedia and telecommunication services provider that offers fibre-optic access to gated communities with about 29,000 residential homes on their platform. With this acquisition, taking effect on November 30, 2016, MTN hopes to boosts its fibre-to-the-home (FTTH) services and strengthen their presence in the market.
Mteto Nyati, chief executive of MTN South Africa said “The acquisition of Smart Village provides MTN with the opportunity to cement its market leadership in the FTTH space and to make inroads in the enterprise sector.”
MTN may be the new parent company of Smart Village, but that doesn’t mean things will change for the subsidiary. In an email to subscribers, Smart Village said they will “continue to operate as a self-standing company,” and have “no doubt that being part of the MTN stable will augur well for our valued customers.”
Smart Village has also promised that services will continue during the transition with little or no interruption.