Bahraini-backed MVNA goes into liquidation having failed to secure a single customer
Viacloud, the EE MVNA partner which had Virgin Mobile founders Tom Alexander and Joe Steel as non-executive chairman and chief executive officer, has entered liquidation after its Bahraini investors ran out of money.
The UK business was launched back in 2010 and is believed to have failed to have secured a single customer other than two in-house MVNOs.
Alexander, who was chief executive officer of Everything Everywhere prior to its rebrand as EE, was appointed in October 2013 with Steel joining him in late February in a last ditch attempt to rescue the business.
Steel replaced Emmanuelle Angelidis who Mobile News revealed had quit alongside chief financial officer Richard Schafer in February following less than 12 months with the company.
Last-dich efforts to secure financing from investors and financial institutions failed leading to Stratum, the Bahraini investment vehicle behind the project, to pull the plug appointing Moorfields as liquidatators on June 4th.
The platform was very advanced with deep integration into EE’s systems and the ability to support and bill up to 7 million customers and Viacloud had claimed it could provide a carrier grade platform to MVNOs.