Proximus to acquire MVNO Mobile Vikings for €130m
Proximus Group has signed a definitive agreement with DPG Media to acquire Mobile Vikings, including the Jim Mobile brand.
Through the deal transaction, Proximus gains a major Belgian mobile virtual network operator whose customer-base of approximately 335,000 customers is mostly comprised of young people.
“I am very proud of Mobile Vikings’ evolution within our company since 2015. The dedication and professionalism of the Viking team in Hasselt has enabled us to achieve strong growth in the Viking community to over 300,000 customers,” said Kris Vervaet CEO of DPG Media België.
“Mobile Vikings has become a strong brand among youngsters, with a clear positioning and high customer satisfaction. Taking into account the rapid evolution of the telecom sector, including the success of convergent offers, and the current regulatory context, we are convinced that Proximus - as a leading telecom player - is best positioned to enable Mobile Vikings to continue its growth and guarantee them a bright future.”
The news is in line with Proximus’ #inspire2022 strategy and the through the deal expands the company’s core target group (Scarlet and Proximus) to the complementary market segment, enhancing its multi-brand positioning in the residential market.
Proximus says it will retain the Mobile Vikings brand including its name and portfolio of products and services. At the same time Mobile Viking customer can expect no changes to its current services but will in the near future, gain access Proximus’ network in Belgium.
“I am very happy and looking forward to welcoming the Mobile Vikings employees and customers within the Group. My first priority will be to preserve and further develop the identity and market positioning of Mobile Vikings, in order to ensure that this acquisition perfectly complements our existing brand portfolio,” added Guillaume Boutin, CEO of the Proximus Group.
“All of them are different, but very relevant in their respective segments. In return, Mobile Vikings customers will have the best mobile network in Belgium at their disposal and benefit from Proximus' future innovations. This transaction will be a driver of value creation, commercial innovation and growth.”
In addition, Mobile Vikings and its 80 or so employees will continue to operate as a separate entity within the Proximus Group, similarly to its other subsidiaries, Scarlet and Tango. The overall goal is to develop the Mobile Vikings brand and position it for future opportunities.
The €130 million price tag is based on Mobile Vikings being expected to earn just over €50 million revenue and an EBITDA of €15 million for 2020.
Subject to approvals from the Belgian Competition Authority, the deal is expected to close 2021 with full integration due by the first half of 2022.