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Helio Hangs it Up
Posted by: snwmark (---.eurotel.cz)
Date: June 30, 2008 05:26AM

TECH CRUNCH -- June 27 -- Virgin Mobile purchased Helio today for $39m in equity. Helio is a small MVNO that made its name by selling powerful and high-end telephones aimed at technophiles and, thanks to an investment by South Korea's SK Telecom, Korean-Americans. As part of the deal, Virgin Mobile is also receiving $50m to pay down Helio's debt, as well as an additional revolving credit facility of $60m. Helio had 170,000 subscribers while virgin Mobile currently has about 5m. The deal will also give Virgin access to a number of technologies owned by Helio including customer management and cellphone deck applications.

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Re: Helio Hangs it Up
Posted by: yorktown (Moderator)
Date: July 1, 2008 07:18PM

Their next gen phone models are a me-too of the iPhone.

This should be interesting to see wha Virgin does with it.

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