Answers

A team of experienced executives with diverse geographic and industry backgrounds. We all believe in the same values and complement each other in delivering on our common goals and vision. 

The markets in which Virgin Mobile and Friendi Mobile operate are forecast to show significant growth in the coming years. With our investment, operational experience and the support of our customers, partners and employees we’ll be working to outperform this in each of our markets.

There are no official figures published in the industry, but we can confirm that the market shares for both correspond to the number of years of successful operation, funds invested, and the quality of service that both provide. These were certainly factors in our decision to make the investment.

Virgin Mobile and FRiENDi Mobile benefit from strong brand equity and significant trust from its customers, partners and employees, and we will do what is in our power to remain to be worthy of that trust. Over time we will introduce new services and experiences to the existing platform, which we are confident will drive continued growth.

We are focused almost exclusively on expansion and plan to increase the personnel base, both in the local operating entities, as well as our central office. Major job losses are not anticipated, and as additional skillset requirements become apparent within our teams, new opportunities will be presented. Some senior executives of Virgin Mobile HQ will, as part of this transaction, pursue new opportunities.

We are looking at acquisitions of companies which have a strong position and significant growth potential in their respective markets. With the leverage of our capital and expertise, we work to grow the businesses and elevate the service offering to customers. The Virgin Mobile and Friendi Mobile operations both comfortably meet these requirements and we hope to be able to deliver continually enhanced services to the consumers in these markets, provide additional employment opportunities and growth the business.

While we’re not in a position to disclose individual transaction valuations, we can confirm our intention to deploy several hundred million USD per annum for our acquisition strategy.

We have been working with Al Tamimi (Legal), Price Waterhouse (Financial and Tax) as well as Roland Berger (Commercial and Technical) and are constantly expanding the network of our partners.

As a private investment company, we are bound to confidentiality clauses and always honour our commitments.

Our first acquisition is Virgin Mobile Middle East and Africa, which includes active operations in the Kingdom of Saudi Arabia, United Arab Emirates, Sultanate of Oman and State of Kuwait.

We are looking for acquisitions of companies that have proven themselves commercially and/or technologically in their respective sectors and countries. We intend to become a leader in growth markets as an aggregator reshaping and streamlining the personalised digital worlds of consumers today.