EQT has announced that the EQT Infrastructure IV fund has signed an agreement to sell Maltese operator Melita to Goldman Sachs Alternatives. The transaction is subject to conditions, including regulatory approvals. Financial details related to the transaction have not been disclosed.
Also Read: Melita to Invest EUR 50 Million to Make Malta a Gigabit Island
Melita
Founded in 1992, Melita is a digital infrastructure owner and operator in Malta. It operates a fully invested fiber-based fixed network and a nationwide 5G mobile network, complete with its own towers, backhaul, and small-cell footprint. With the largest data center in Malta, Melita offers Gigabit broadband, 5G mobile connectivity, premium TV services, and data center solutions to both households and businesses.
Investments into Melita
Since acquiring Melita in 2019, EQT said it has made substantial investments in its infrastructure and operations. Key achievements include adopting generative AI tools to enhance customer support and expanding internationally into the European IoT connectivity market through a proprietary platform.
Also Read: Melita Acquires Crout to Boost IoT Offerings
Commitment to Sustainability
Melita also became the first EQT portfolio company to have its near-term targets validated by the Science Based Targets initiative. "The Company is investing in solar farms to produce renewable energy and has already replaced almost half of its car fleet with electric vehicles," EQT said.
An EQT Partner remarked, "We supported Melita through strategic investments including in its 5G coverage and an upgrade of its fiber-powered network. We are proud of the rapid progress of Melita's IoT business which, in just a few years since inception, has grown significantly and through add-on acquisitions, established a promising new business line with a pan-European reach."
Also Read: Melita Invests Over EUR 150 Million in Network Infrastructure
Melita’s CEO on the Road Ahead
Melita's CEO commented: "Thanks to EQT's support, the past five years have been transformational, enabling us to make substantial progress across all aspects of our business and becoming the first operator in the European Union to deploy both a nationwide Gigabit broadband network and a nationwide 5G network. This transaction reflects the achievements of our entire team and the loyalty of our customers."
"With Goldman Sachs Alternatives' support and expertise, we are excited to continue our journey sustainably, investing in our infrastructure, enhancing our services in Malta and driving further innovation," the CEO added.
