Virgin Mobile USA has announced the completion of the Helio acquisition. The deal, which was officially announced back towards the end of June was completed for the expected $39 million and has removed ownership from SK Telecom and Earthlink.
The $39 million payment for the acquisition was not in cash, but instead was 13 million shares of Virgin Mobile USA common stock. Also, and in addition to the received stock, the transaction included SK Telecom and UK based venture capital company Virgin Group each investing $25 million into Virgin Mobile USA for which they will receive preferred stock. Finally SK Telecom was also offered two board of director seats on the Virgin Mobile USA board.
Via [Mobile Burn]
No comments:
Post a Comment