Virgin Mobile to acquire Helio for USD 39 million

Virgin Mobile has announced that they are going to acquire rival telecom company Helio for $39 million.

They would gain around 170,000 customers through this deal.

Incidentally, both of these companies function as mobile virtual network operators in the US market.

Virgin further said that they are getting an investment of $50 million in cash from parent company Virgin Group and SK Telecom.

The deal would see SK Telecom getting 17 percent of Virgin Mobile USA. They had partial ownership in Helio.