Divestiture • Communications

Virgin Mobile USA Acquires Helio

On June 27, 2008, Virgin Mobile USA acquired communications company Helio from SK Telecom

Acquisition Context
  • This is Virgin Mobile USA’s 1st transaction in the Communications sector.
  • This is Virgin Mobile USA’s 1st transaction in the United States.
  • This is Virgin Mobile USA’s 1st transaction in California.

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M&A Deal Summary

Date June 27, 2008
Target Helio
Sector Communications
Buyer(s) Virgin Mobile USA
Sellers(s) SK Telecom
Deal Type Divestiture
Advisor(s) Inverness Advisors (Financial)

Target Company

Helio

Los Angeles, California, United States
Helio LLC provides wireless communication services in the United States. The company offers wireless services.
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Buyer Overview 1

Buyer

Virgin Mobile USA

Warren, New Jersey, United States

Category Company
Founded 2001
Sector Communications
Employees500
DESCRIPTION

Virgin Mobile USA is a US prepaid wireless voice, messaging, and mobile broadband service provider.


Deal Context for Buyer #
Overall 1 of 1
Sector: Communications 1 of 1
Type: Divestiture 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2008 1 of 1

Seller Profile 1

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 1 of 3
Sector: Communications 1 of 2
Type: Divestiture 1 of 2
State: California 1 of 2
Country: United States 1 of 3
Year: 2008 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-03 Hanaro Telecom

South Korea

Hanaro Telecom provides telecommunications services and offers broadband Internet access, voice, leased line and IDC services in Korea. Hanaro's voice service comprises local, domestic long distance, international long distance and VoIP services.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-24 Virgin Mobile USA

Warren, New Jersey, United States

Virgin Mobile USA is a US prepaid wireless voice, messaging, and mobile broadband service provider.

Sell $483M