News
Switzerland-based Palmarium acquires MVNO for undisclosed sum, installs experienced telco exec as new CEO
Experience telecoms executive Graeme Oxby has been named as the new chief executive of Lebara following its acquisition by investment firm Palmarium.
The Swiss-based outfit announced it has completed the acquisition of Lebara, a pan-European mobile virtual network operator (MVNO), but did not share the price of the deal.
"Palmarium gives Lebara strong backing and expertise to grow and drive the digitalisation of the business," the company said, in a statement.
It added that Lebara’s founders will leave the company, and that a new leadership team, headed by CEO Graeme Oxby, is in place.
Most recently, Oxby served as managing director of Liberty Global’s European mobile business and held a variety of senior posts prior to that, including managing director of Virgin Mobile in the U.K. and marketing chief at 3UK.
"Lebara is a vibrant and exciting growth business with a great deal of potential," Oxby said. "I’m excited to be at the helm and believe this acquisition, combined with the strength of the new leadership team and its strong investors, will take this business to the next level," he said.
Lebara pitches itself as a value brand aimed at travellers, students and the migrant community. Its customer base stands at 3.5 million.
The firm used to have a presence in Australia, but sold that part of the business, including the brand name, to Vodafone Hutchison Australia a year ago.
