Fello was acquired by Telia.

Fello, a Gothenburg, Sweden-based company managing a mobile virtual network operator, announced that it was acquired by the Swedish telecom Telia.

The financial details of the transaction were not disclosed. Fello AB will continue to operate under its own brand.

Fello was launched in 2014 by siblings John Axelberg and Lisa Axelberg as an MVNO by renting out spectrum operation from Telia. The company has seven employees and a customer base of about 45,000 customers.

The company was acquired in 2018 by four Nordic angel investors - Alexander Hars, Lars Karlsson, Johan Sköld and Henrik Lie-Nielsen - who now exit the company.

Prior to being bought out, Fello had raised SEK 10.5M ($1.24M) in investment from Johan Hallenby and Johan Norin, as well as from Aggregate Media, which contributed with media space worth SEK 8M.