Dubai, UAE: Beyond ONE™, the digital services provider and TMT-sector (technology, media, telecommunications) investment and operations company, today announced the acquisition of Virgin Mobile Latin America (VMLA), a leading mobile virtual network operator (MVNO) with active operations in the region, including in Mexico and Colombia.
Paving the way as a leading digital provider of mobile services in Latin America since its launch in 2012, VMLA currently serves more than three million users, with a team of 700 employees.
Industry forecasts for the growth potential of the Latin American market are strong. Driven by increasing smartphone adoption and video usage, mobile data traffic will grow more than fourfold across the region over the next six years compared to the global average threefold rate - rising from 7.9GB per month to 35GB per month. (The Mobile Economy 2022).
Beyond ONE intends to become a leading digital services provider in growth markets around the world, radically reshaping consumers’ interaction with technology. The investment strategy and operational management of the company is led by a team of seasoned international industry executives backed by equity funding from Priora Management Holding Dubai, owned by Swiss businessman Remo Stoffel.
The deal marks the second for Beyond ONE following its first acquisition earlier this year of Virgin Mobile Middle East and Africa (VMMEA), which currently operates across Saudi Arabia, the United Arab Emirates, Oman and Kuwait.
Virgin Group is a minority investor alongside Beyond ONE in VMMEA and will also participate alongside Beyond ONE in VMLA, with long-term brand agreements in place with both businesses.
Markus Tagger, Group CEO of Beyond ONE, said: “Our entry into Latin America marks a successful milestone for Beyond ONE in our global ambition to enhance peoples’ lives through digital connectivity in a really transformative way. VMLA offers significant opportunity for growth with its large user base and footprint, and we are committed to serving and growing with our customers across Mexico, Colombia and beyond.”
Juan Guillermo Vélez Ospina, CEO of Virgin Mobile Latin America, says: “This new chapter for VMLA will offer our customers service and product enhancements, while staying true to the values that align VMLA and Beyond ONE. We are confident that this partnership will enable us to better serve our customers, and in working with the Beyond ONE team, be part of the transformation of the industry in Latin America and beyond.”
Josh Bayliss, CEO of the Virgin Group, said: “The investment from Beyond ONE marks an exciting new chapter for VMLA, bringing additional firepower to the teams on the ground as they build on Virgin Mobile’s strong track record and innovative approach. Both Beyond ONE and Virgin Mobile share a commitment to customers, and we have full confidence in the future of the partnership.”
VMLA will be led by Beyond ONE’s global executive team alongside the VMLA teams in each active market. Together they bring industry experience, expertise, and a shared vision for a digital world that empowers consumers to pick and choose exactly what they want rather than having limited choice from pre-established bundles.
As part of an ongoing roll-out programme planned for each market, Beyond ONE will begin to introduce new services, experiences and technology to simplify and benefit customers’ lives, offering them access to communications, banking, entertainment, healthcare, education and more in one easy-to-use platform.
For more information about Beyond ONE, please visit beyond.one
To access the press kit, please click here.
For more information, please contact:
Colombia: Maria Alejandra Pachon
Mexico: Karla Esperanza
United Arab Emirates: Ramzi Alabras
About Beyond ONE™
Beyond ONE is a digital services provider radically reshaping the personalised digital ecosystems of consumers in emerging markets around the world. We put people at the centre of everything we think and do, to create hyper-customised digital experiences that improve their lives and create a more inclusive, colourful and connected world for everyone. A subsidiary of private global investment company Priora Management Holding Dubai, Beyond ONE is headquartered in Dubai, and through its investments, operates in a number of countries around the world. Find out more at https://protect-eu.mimecast.com/s/YCMPCXrXwTMwnVYLikkUdA?domain=beyond.one
About Virgin Mobile Latin America
Virgin Mobile Latin America (VMLA) operates as a mobile virtual network operator (MVNO) under the brand name "Virgin Mobile" in several countries. As an MVNO, the Company enters into a wholesale services agreement with a local mobile operator (MNO) and purchases mobile services at wholesale rates and then re-packages and rebrands those services under the Virgin Mobile brand and targets data centric young-at-heart customers as its core customer market. The Company launched its initial operations in April 2012.
About Virgin Group
The Virgin Group is a leading international investment group and one of the world’s most recognised and respected brands. Created in 1970 with the birth of Virgin Records, the Virgin Group has gone on to invest in, incubate, and grow several successful businesses in the private and public markets. The Virgin Group has expanded into many sectors since its inception, driven by Sir Richard’s ambition to create the world’s most irresistible brand. These sectors include travel & leisure, financial services, health & wellness, technology & internet-enabled, music & entertainment, media & mobile, space, and renewable energy. Avoiding the impacts of climate change is a key priority for the Virgin branded businesses and we believe that all Virgin branded companies should achieve net zero emissions by latest 2050. Find out more at https://protect-eu.mimecast.com/s/39mPC27qrsEMkPwDf0ZKfz?domain=virgin.com