Virgin Mobile USA Finalizes Helio Acquisition

posted Aug 22, 2008, 12:20 PM by Eric M. Zeman

Today Virgin Mobile USA announced that it has closed on the acquisition of MVNO Helio, which was first announced in June. The acquisition gives Virgin Mobile the ability to offer its customers post-paid service and an expanded range of data applications. In order to close the deal, Helio shuttered all of its retail stores with the exception of a location in New York City. Virgin Mobile also renegotiated with Helio carrier partner Sprint to reduce its cost per minute. Helio's previous owners, SK Telecom and EarthLink, will receive shares in Virgin Mobile as part of the deal, and SK Telecom will contribute two members to the board of directors at Virgin Mobile.

more info at Virgin Mobile USA »

4 comments on this news item ›

Related news:
Virgin Mobile USA Buys Helio for $39 Million Jun 27, 2008
Virgin Mobile USA to Buy Helio Jun 25, 2008
Virgin Relaunches Helio Sep 9, 2008
Sprint to Acquire Virgin Mobile USA Jul 28, 2009
SK Telecom to Sell Its Stake in Virgin Mobile Jul 29, 2009

more related news ›