Brightpoint, Inc. to acquire Technology Resources International Ltd.INDIANAPOLIS--(BUSINESS WIRE)--Dec. 20, 1995--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 signed a letter of intent to acquire all of the outstanding stock of Technology Resources International Ltd., ("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 "). The contemplated transaction is subject to the negotiation of a mutually acceptable definitive agreement, to the approval of the board of directors of Brightpoint, Inc., and to the usual regulatory approvals including, but not limited to, Hart-Scott-Rodino Antitrust waiting periods. Technology Resources International Ltd. is an international distributor of wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. equipment with approximately 36 sales people working out of 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. , China, Australia, Bahrain, and 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. . Brightpoint, Inc. will establish a new subsidiary, Brightpoint International Ltd., in the United Kingdom. One hundred percent of the stock of TRI will be acquired in exchange for 50% of the stock of the newly formed Brightpoint International Ltd. The new company's operations will be headquartered in London and will be headed by John Maclean-Arnott as President. The new venture will be responsible for all of Brightpoint's sales and marketing 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. . "We are excited to be joining forces with an established industry leader like Brightpoint, Inc. Brightpoint's vendor relationships, distribution expertise, and strong capital structure are excellent complements to Technology Resources International's world-wide sales and marketing capabilities, and established international carrier relationships," stated John Maclean-Arnott, TRI's Managing Director and its largest shareholder. "Brightpoint now has the opportunity to replicate the successful distribution model we have created in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as TRI facilitates our entry into the world's biggest developing markets with in-country sales and servicing capabilities," stated Robert J. Laikin, President 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, 317/297-6100 |
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