Beyond ONE, a subsidiary of Priora Management Holding Dubai, has acquired Virgin Mobile Middle East and Africa (VMMEA), a mobile virtual network operator (MVNO) with operations in the UAE, Saudi Arabia, Oman, and Kuwait. The MVNO operates under the Virgin Mobile and Friendi Mobile brands.
Beyond ONE is a technology, media, and telecommunications-focused company, newly established by Priora Management Holding Dubai. The acquisition of VMMEA is Beyond ONE’s first deal and is owned by Swiss businessman Remo Stoffel and Markus Tagger, who serves as the CEO of Beyond ONE.
Founded in 2006, Virgin Mobile MEA was one of the pioneers in virtual mobile networks in the region. With over three million users, it boasts a profitable and industry-leading digital communication platform for both its Virgin Mobile and Friendi Mobile operations. As part of the deal, Virgin Group will invest alongside Beyond ONE and retain a minority stake in the company, along with a seat on the board.
“We are looking at the acquisition of companies with a strong position and significant growth potential in their respective markets – VMMEA’s operations comfortably meet these requirements. Both Virgin Mobile and Friendi Mobile benefit from strong brand equity and significant trust from their customers, partners and employees, and we will do what is in our power to maintain this.Markus Tagger, CEO, Beyond ONE