Dubai tech company buys Virgin Mobile Latin America

Wikimedia Commons/Raysonho

• Virtual mobile network has 3m customers
• Beyond One previous bought VMMEA
• It is backed by a Swiss investment group

A Dubai technology investment company has bought Virgin Mobile Latin America, a mobile virtual network operator with operations in Mexico and Colombia.

The acquisition by Beyond One follows its buyout in February of Virgin Mobile Middle East and Africa, which serves Saudi Arabia, the UAE, Oman and Kuwait.  

A mobile virtual network operator is a provider that does not own the wireless network infrastructure over which it offers services to its customers.

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Launched in 2012, VMLA serves more than three million users in Latin America, and has 700 employees.

Industry forecasts suggest mobile data traffic will increase more than fourfold across the region over the next six years, driven by increasing smartphone adoption and video usage.

Beyond One said in a statement that it intends to become a “leading digital services provider in growth markets around the world.”

It is backed by its parent company Priora Management Holding Dubai, a private equity group owned by Swiss businessman Remo Stoffel.

Virgin Group is a minority investor alongside Beyond One in Virgin Mobile Middle East and Africa and will also participate in VMLA, with long-term brand agreements in place with both businesses. 

“Our entry into Latin America marks a successful milestone in our global ambition,” Markus Tagger, group CEO of Beyond One, said.

“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.”

As part of an ongoing roll-out programme planned for each market, Beyond One said it will begin to introduce new services, experiences and technology.