Shebang acquired by Personal Group in £1.3m deal

Shebang acquired by Personal Group in £1.3m deal

Shebang Technologies has been acquired by Personal Group, with the employee benefit provider to launch a new MVNO called Personal Group Mobile.

The takeover, valued at an estimated £1.3m, enables Personal Group to utilise Shebang’s current MVNO license with Three to gain a head start in the MVNO market. As part of their strategy to move into the industry, Personal Group quickly snapped up Shebang after it went into administration Friday afternoon, with the sale completed by Saturday, securing all jobs.

The MVNO will offer mobile phone and airtime employee benefit packages and complements the group’s Let’s Connect unit which currently offers home technology.

Mark Scanlon, Chief Executive of Personal Group, described the step as a ‘natural evolution’ from their 2013 acquisition of Let’s Connect which allowed it to sell handsets, and the move towards an MVNO enables them to manage price and tariffs, as well as offer airtime. Customers will be able to receive mobile phones, via salary sacrifice, at a discount of 32% to 47% on standard retail pricing.

Scanlon said: ‘[We are] delighted to announce this bolt-on acquisition which represents a swift and effective way to enter the phone and airtime provisioning market with a fully functioning and operational business.

‘We view mobile phones and airtime as a utility and a necessity where we can offer real savings for our [employer clients]. We welcome Shebang and its staff to Personal Group and look forward to building the business with them.’

PGM will continue to target Personal Group’s B2B client base, with the new mobile arm aimed at adapting a mobile product for their current market, with the focus on the 2m employees already on a number of Personal Group programmes.

Comments

Please wait...


Please write code to prove you're human