Dubai: Beyond ONE, a subsidiary of Priora Management Holding Dubai, has successfully completed the acquisition of Virgin Mobile Latin America (VMLA), a prominent mobile virtual network operator (MVNO) renowned in the region, with a strong presence in countries like Mexico and Colombia.
“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 peoples’ 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.”
The deal marks the second for Beyond ONE following its first acquisition earlier this year of Virgin Mobile Middle East and Africa (VMMEA). Virgin Group stands as a minority stakeholder alongside Beyond ONE in VMMEA, and will also play a collaborative role in VMLA. Both partnerships have established long-term brand agreements.
“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,” said Juan Guillermo Vélez Ospina, CEO of Virgin Mobile Latin America.