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Virgin Mobile USA Buys Helio for $39 Million

Jun 27, 2008, 8:54 AM by Eric M. Zeman

Today Virgin Mobile USA announced that it will buy Helio from SK Telecom and Earthlink for about $39 million. In return, SK Telecom will invest in Virgin Mobile USA and acquire about 17 million shares of Virgin Mobile USA, as well as two seats on its board. Virgin will acquire Helio's customers, handset inventory, and will have access to its post-paid billing systems, allowing Virgin Mobile USA to begin offering post-paid accounts. Virgin also expects that it will be able to negotiate better rates with its network operator partner Sprint, and will explore how to best offer Helio's content and other services to its existing customer base. The companies expect the deal to close during the third quarter of 2008.

source: Virgin Mobile USA

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Comments

This forum is closed.

This forum is closed.

sangyup81

Jun 28, 2008, 10:22 AM

Does Virgin even have stores?

And do the Helio stores become Virgin stores?

thbarnes

VM is sold through Sprint/Nextel stores, online, at pharmacies, and at most major "big box" stores (including Best Buy, Target, Circuit City and Wal-Mart).

VM does not operate any stores. On the other hand, VM is the longest running and most succes...
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iibaybully510

Jun 27, 2008, 2:19 PM

AND THATS A WRAP...

sO where us helions gonna go.. 😢 ... oh wel 🙄 ... That Dare on the right looks nice.. Yup... Pretty much does it for me... goodbye helio...

Naytess

Really? Just outta curiosity...why so quick to jump ship? I think I'll wait to see how this unfolds. If Helio's innovation remains intact...I'm good. Plus, with the Ocean 2 comin' out soon (supposedly), and a monthly "All In" plan that can't be beat -...
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sopasesos

helions don't have to go anywhere... if anything this move will probably expand your options and possibly get some better deals. a combined helio/virginusa can negotiate better network deals with sprint. besides, sk telecom (helio's main parent) wil...
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