Add-on Acquisition • Communications

Sprint Acquires Virgin Mobile USA

On November 24, 2009, Sprint acquired communications company Virgin Mobile USA from Sprint, Virgin Group and SK Telecom for 483M USD

Acquisition Context
  • This is Sprint’s 11th transaction in the Communications sector.
  • This is Sprint’s 7th largest (disclosed) transaction.
  • This is Sprint’s 11th transaction in the United States.
  • This is Sprint’s 2nd transaction in New Jersey.

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M&A Deal Summary

Date November 24, 2009
Target Virgin Mobile USA
Sector Communications
Buyer(s) Sprint
Sellers(s) Sprint
Virgin Group
SK Telecom
Deal Type Add-on Acquisition
Deal Value 483M USD

Target Company

Virgin Mobile USA

Warren, New Jersey, United States
Virgin Mobile USA is a US prepaid wireless voice, messaging, and mobile broadband service provider.
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Buyer Overview 1

Buyer

Sprint

Overland Park, Kansas, United States

Category Company
Founded 1899
Sector Communications
Employees36,000
Revenue 33.3B USD (2018)
DESCRIPTION
Building on Sprint's corporate campus in Overland Park, Kansas.
Building on Sprint's corporate campus in Overland Park, Kansas.

Sprint is a provider of wireless and wireline communications services for consumers, businesses and government users. In addition to the Sprint brand, Sprint offers its services through Virgin Mobile USA, Boost Mobile, and Assurance Wireless.


Deal Context for Buyer #
Overall 11 of 13
Sector: Communications 11 of 12
Type: Add-on Acquisition 9 of 11
State: New Jersey 2 of 2
Country: United States 11 of 13
Year: 2009 2 of 2
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-19 iPCS

Schaumburg, Illinois, United States

iPCS, through its operating subsidiaries, was a Sprint PCS Affiliate of Sprint Nextel Corporation with the exclusive right to sell wireless mobility communications network products and services under the Sprint brand in 81 markets including markets in Illinois, Michigan, Pennsylvania, Indiana, Iowa, Ohio and Tennessee.

Buy $831M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-20 Handmark

Kansas City, Missouri, United States

Handmark, Inc. is a mobile platforms developer applications for Android, Blackberry and Windows.

Buy -

Seller Profiles 3

SELLER

Sprint

Overland Park, Kansas, United States

Category Company
Founded 1899
Sector Communications
Employees36,000
Revenue 33.3B USD (2018)
DESCRIPTION
Building on Sprint's corporate campus in Overland Park, Kansas.
Building on Sprint's corporate campus in Overland Park, Kansas.

Sprint is a provider of wireless and wireline communications services for consumers, businesses and government users. In addition to the Sprint brand, Sprint offers its services through Virgin Mobile USA, Boost Mobile, and Assurance Wireless.


Deal Context for Seller #
Overall 4 of 4
Sector: Communications 4 of 4
Type: Add-on Acquisition 1 of 1
State: New Jersey 1 of 1
Country: United States 4 of 4
Year: 2009 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-19 iPCS

Schaumburg, Illinois, United States

iPCS, through its operating subsidiaries, was a Sprint PCS Affiliate of Sprint Nextel Corporation with the exclusive right to sell wireless mobility communications network products and services under the Sprint brand in 81 markets including markets in Illinois, Michigan, Pennsylvania, Indiana, Iowa, Ohio and Tennessee.

Buy $831M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-20 Handmark

Kansas City, Missouri, United States

Handmark, Inc. is a mobile platforms developer applications for Android, Blackberry and Windows.

Buy -
SELLER

Virgin Group

London, United Kingdom

Category Company
Founded 1970
Sector Diversified
Employees50,000
Revenue 15.0B GBP (2012)
DESCRIPTION

Virgin Group Ltd. is a British multinational company that operates in the travel, entertainment and lifestyle industries. It also manages ventures in financial services, transport, healthcare, food, and communications.


Deal Context for Seller #
Overall 3 of 4
Sector: Communications 2 of 2
Type: Add-on Acquisition 1 of 1
State: New Jersey 1 of 1
Country: United States 1 of 2
Year: 2009 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-10 Virgin America

Burlingame, California, United States

Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-14 Virgin America

Burlingame, California, United States

Virgin America, Inc. is a domestic airline serving the United States. Virgin America's fleet of 60 Airbus A319 and A320 aircraft have three classes of service, in-flight WiFi and power outlets on every flight, as well as personal, touch-screen seatback entertainment. The airline was established in 2004.

Sell -
SELLER

SK Telecom

Seoul, South Korea

Category Company
Founded 1984
Sector Communications
Revenue 17.94T KRW (2024)
DESCRIPTION

SK Telecom is a provider of wireless telecommunications services. SK Telecom was founded in 1984 and is based in Seoul, South Korea.


Deal Context for Seller #
Overall 2 of 3
Sector: Communications 2 of 2
Type: Add-on Acquisition 1 of 1
State: New Jersey 1 of 1
Country: United States 2 of 3
Year: 2009 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-27 Helio

Los Angeles, California, United States

Helio LLC provides wireless communication services in the United States. The company offers wireless services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 iRiver

Seoul, South Korea

iRiver is a Korea-based digital multimedia device manufacturer. Iriver is a market leader in the Korean MP3 player as well as electronic dictionary segments. Iriver has expanded its product portfolio to include portable media players, car navigation systems, e-books and landline/wireless network devices.

Buy -