Melita plc is being sold to France-based Apax Partners and Fortino Capital, the telecommunications company revealed this morning.

The sale is subject to regulatory approval, said Melita's owners, GMT Communications Partners, MC Venture Partners, Blackrock Communications and the Gasan Group.

Chairman Joseph Gasan said he was delighted that the company, which he founded 23 years ago, was now in a position to start a new phase under new ownership.

The company’s management team welcomed the deal and described it as recognition of Melita’s consistent growth throughout the past years, based on a clear strategy of delivering customer value through convergence.

CEO Andrei Torriani said that as the company continued to grow, invest and roll-out new offerings, it should continue to be a strong employer in Malta.

As the company continued to grow, invest and roll-out new offerings, it should continue to be a strong employer in Malta

Apax Partners and Fortino Capital together bring more than 30 years of experience in the technology, media and telecom sector.

Through their investments and professional participation the new investors bring experience from companies such as Numericable Belgium & Luxembourg, Cabovisao, Outremer Telecom, Telenet, Primacom and KPN.

Over recent years, Melita completed key infrastructure investments that have been acknowledged by the European Commission and enabled Malta to place at the top of the European charts for next generation broadband coverage.

These include nationwide 3G mobile network, laying of a submarine cable connecting Malta to mainland Europe, nationwide deployment of next generation broadband with speeds up to 250Mbps, construction of a state-of-the-art data centre for co-location and hosting services, as well as the roll-out of Melita wifi - the next-generation wifi service. It continues to invest in dedicated fibre connectivity to businesses across all Malta and Gozo.

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