Virgin Mobile Latin America Acquired by Technology Investment Group Beyond ONE

Virgin Mobile Latin America Acquired by Technology Investment Group Beyond ONE

By Staff Writer, 31 August 2023

Virgin Mobile Latin America (VMLA), a well-known mobile virtual network operator (MVNO) in the region, has been successfully acquired by Beyond ONE, reported Gulf News. Not only in the region, but VMLA also has a strong presence in nations like Mexico and Colombia. Meanwhile, Beyond One is known as a subsidiary of Priora Management Holding Dubai.

“Beyond ONE intends to become a leading digital services provider in growth markets around the world, radically reshaping consumers’ interaction with technology,” the company said in a statement released on Wednesday. The strategic investment approach and day-to-day operations are under the guidance of a seasoned executive team, bolstered by equity funding from Priora Management Holding Dubai, helmed by Swiss entrepreneur Remo Stoffel.

“Our entry into Latin America marks a successful milestone for Beyond ONE in our global ambition to enhance people’s lives through digital connectivity in a really transformative way,” said Markus Tagger, Group CEO of Beyond ONE. “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.”

Beyond ONE has announced its second acquisition, VMLA, following its earlier purchase of Virgin Mobile Middle East and Africa. Virgin Group retains a minority stake in VMMEA and holds a collaborative position in VMLA, with both agreements ensuring long-term brand alignment and promising service and product improvements for customers.

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