Brightpoint Announces Taiwan Acquisition.INDIANAPOLIS--(BUSINESS WIRE)--April 9, 1998--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 entered into a definitive agreement to acquire the business and certain net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of Function Communications Co., Ltd. ("Function"). For the year ended December 31, 1997, Function recorded sales of approximately 476 New Taiwan Dollars (approximately US$15 million). The acquisition is expected to close on or before May 15, 1998 and is conditional upon, among other things, the satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review by Brightpoint and the requisite governmental approval. Function is a leader in the provision of distribution and value-added logistics services to the wireless communications industry in Taiwan. Function has supply arrangements with Nokia Corp. (NASDAQ:NOKA) and Motorola, Inc. (NYSE NYSE See: New York Stock Exchange :MOT). Brightpoint is a leading provider of distribution and value- added logistics services to the wireless communications industry. Brightpoint facilitates the effective and efficient distribution of handsets and related accessories from leading manufacturers to network operators, agents, resellers, dealers and retailers. "Forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 may be included in this news release. A variety of factors could cause the Company's actual results to differ from the reported results expressed in such forward-looking statements. Investors are referred to the Company's Cautionary Statements (Exhibit 99 to the Company's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. ), which statements are incorporated into this news release by reference. CONTACT: Brightpoint, Inc., Indianapolis, Indiana Phillip A. Bounsall, 317/297-6100 |
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