Brightpoint, Inc. agrees to acquire balance of Brightpoint International Ltd.INDIANAPOLIS--(BUSINESS WIRE)--Nov. 12, 1996--Brightpoint, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CELL) announced today that it has reached an agreement in principle to acquire the balance of the ownership of its subsidiary, Brightpoint International Ltd. The 50 percent interest being acquired is currently owned by Technology Resources International Limited. The purchase price includes 400,000 shares of Brightpoint common stock together with $5 million in cash. John Maclean-Arnott, Managing Director of Brightpoint Europe, Middle East and Africa and Dana Marlin, Managing Director of Brightpoint Asia Pacific, the principal shareholders of TRI TRI Toxics Release Inventory (US EPA) TRI Touch Research Institute TRI Taux de Rentabilité Interne (French: internal rate of return) TRI Taux de Rentabilité Interne TRI Tile Roofing Institute , will continue in their current capacities with Brightpoint International Ltd. Brightpoint expects to close the transaction during the fourth quarter of 1996. Brightpoint International Ltd., a subsidiary of Brightpoint, Inc., is headquartered in Manchester, England, and is responsible for all of Brightpoint's sales and marketing efforts outside of North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Brightpoint International Ltd. is led by T. Scott Housefield, President, and maintains sales offices in the United Kingdom, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Australia, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. and Singapore. "This acquisition is beneficial as it provides opportunities for global synergies with Brightpoint such as global product procurement and the delivery of value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. . Brightpoint International Ltd. will also enjoy better access to capital for continued growth," stated T. Scott Housefield, President of Brightpoint International Ltd. "Together with our recently announced formation of Brightpoint Australia Pty Ltd PTY LTD Propriety Limited (company structure in Australia) ., this transaction further evidences our presence in and continued commitment to major international markets." "This is exciting as it gives Brightpoint a full stake in one of the fastest growing segments of our business. I am pleased that two of our leading international executives have now become major Brightpoint shareholders," stated Robert J. Laikin, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Brightpoint, Inc. Brightpoint, Inc. distributes wireless communication equipment and related products globally and provides related services including inventory management, fulfillment, packaging and programming. The Company's primary mission is to always be the most efficient channel of distribution for vendors and the low cost/high service provider to customers, thereby striving to be the best total cost provider in terms of price, time and reliability. CONTACT: Brightpoint, Inc., Indianapolis J. Mark Howell or Phillip A. Bounsall, 317/297-6100 |
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