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SoftBank to buy Brightstar for $1.26 billion

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Staff writer ▼ | October 18, 2013
SoftBank Corp. has entered into agreements with the major shareholders of mobile device distributor Brightstar Corp. SoftBank will invest $1.26 billion into certain U.S. subsidiaries.
SoftBankSoftBank Corp. has entered into agreements with the major shareholders of mobile device distributor Brightstar Corp. SoftBank will invest $1.26 billion into certain U.S. subsidiaries.


Such U.S. subsidiaries will purchase 100% of the Brightstar. As a result of the Transaction, SoftBank will indirectly own approximately 57% of the voting power, and common stock, of the shares of a U.S. subsidiary that will own 100% of Brightstar, making Brightstar a subsidiary of SoftBank.

SoftBank plans to gradually increase its ownership in the U.S. subsidiary to approximately 70% of the voting power, and common stock, over the five year period.

Brightstar is a specialized wireless distributor and provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers.

Its services include Supply Chain Solutions, Handset Protection & Insurance, Buyback and Trade-in Solutions, Multi-Channel Retail Solutions, and Financial Services. Brightstar provides services in over 125 countries and has a local presence in more than 50 countries.


 

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