Prepaid cell phone carrier, Virgin Mobile USA, revealed on Friday that it
would purchase struggling rival, Helio, in an all-stock deal worth $39 million.
Helio, which was formed in May 2006 as a joint venture between EarthLink and SK
Telecom, and primarily targets younger users, has a customer base of about
170,000, down from almost 200,000 at the beginning of 2008.
Virgin will continue to offer Helio’s advanced mobile data services and
contract-based plans, but will likely phase out the Helio brand name, according
to Virgin Mobile CEO, Daniel H. Schulman.
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