Helio acquired by Virgin Mobile for $39 million

It looks like the rumors have come true, Virgin Mobile has officially announced plans to acquire Helio. The deal is still pending approval, however it is expected to close during Q3 2008.

The deal is not going to be a cash deal though, instead Virgin Mobile is taking Helio from the current owners, which are SK Telecom and Earthlink for $39 million in Virgin Mobile USA stock.

Its also sounding pretty good for current Helio customers, as they have already posted a nice FAQ to answer most questions. It also looks like there are not going to be any quick changes.

It seems to be that current Helio customers will not see any service interruption, and new customers are still able to sign up for Helio service. They do however expect the Helio brand to be integrated with Virgin Mobile in the future. It was also noted that this will not be a reason for current Helio customers to get out of the contract, they are and will remain in effect and any applicable termination fee’s would still apply.

Continue reading to check out the FAQ: