Belgian operator Proximus struck a deal with DPG Media to acquire local MVNO Mobile Vikings in a tie-up valued at €130 million, as it looks to boost its offering to the youth segment of the market.
In a statement, Proximus said Mobile Vikings, which has around 80 employees, would operate as a separate entity should the deal complete: it is subject to approval from the Belgian Competition Authority.
As part of the deal, Proximus would also acquire Jim Mobile, which is included under the Mobile Vikings entity.
Proximus said bringing Mobile Vikings on board was in line with its strategy up to 2022, which aims to open opportunities in complementary market segments and optimise its multi-brand position in the residential sector.
It will also target convergence from a commercial perspective.
Founded in 2007, Mobile Vikings made its name in the youth segment, building its brand with an emphasis on mobile data. Combined, Mobile Vikings and Jim Mobile have around 335,000 customers, with the business expected to generate revenue of more that €50 million this year.
Guillaume Boutin, CEO of Proximus, said he would look to preserve and further develop the identity and market positioning of Mobile Vikings.
“This transaction will be a driver of value creation, commercial innovation and growth,” he added.
Proximus said it expects the acquisition to close in 2021 and the first synergies to be recognised in the first half of 2022.Subscribe to our daily newsletter Back