Filed under: Cellphones

We know, the little possibility that the whole deal could fall apart has been keeping you wide awake for months, but at long last, you can push aside your anxiety and hit the sack. Virgin Mobile USA announced today that it had “completed its acquisition of Helio,” and all of the terms put forth on June 27th were used in the final close. Aside from garnering all the necessary regulatory approvals, Helio shareholders SK Telecom and EarthLink have received 13 million shares of Virgin Mobile USA Class A common stock, with a value of around $38 million. It’s also noted that both SK Telecom and Virgin Group will each invest a cool $25 million in Virgin Mobile USA for preferred shares. And then, there was one.

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Filed under: Cellphones

It’s official, MVNO lone survivor Virgin Mobile is picking up the struggling Helio from SK Telecom and Earthlink for a cool $39 million in Virgin Mobile USA stock. They expect the deal to close in Q3 2008, pending regulatory approval. The acquisition comes as no surprise, but it’s still sad to see the one true innovator in a mostly doomed MVNO space fall to that pesky little “completely failing to make money” thing. The good news is that it while the Helio brand will be phased out, Virgin Mobile isn’t just in this for the 170,000-ish subscribers it’ll be picking up. They plan to leverage Helio’s technology and content offerings, not to mention the willingness of its customers to pay a few extra bucks for the perks, to build the Virgin Mobile brand into new spaces — spaces which hopefully prove profitable and Ocean 2-ey.

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