Brightpoint and Dangaard Telecom to Merge

The handset distribution firm, Brightpoint says that it has entered into a definitive agreement to acquire all of the outstanding shares of rival distributor, Dangaard Telecom. The combined company will have a strong financial base with 2006 estimated pro forma revenues of $4.6 billion and operating income of $106 million. The combined entity will have more than 3,100 employees and over 25,000 customers in 25 countries and last year would have jointly shipped over 64 million devices.

"This transaction will join together two of the most prominent players in the wireless handset distribution and logistics industry to create the true global leader," stated Robert J. Laikin, Chief Executive Officer and Chairman of the Board of Brightpoint, Inc. "I firmly believe our two companies complement each other perfectly in terms of geography, service offerings and shared commitment to operational excellence. Our vendors, customers, employees and shareholders will all benefit from the global platform created by this transaction."

"Our combined resources will allow us to leverage the capabilities and best practices from both companies in order to offer advanced wireless services to our customers and business partners in the many attractive markets around the world in which we operate," stated Michael Koehn Milland, Chief Operating Officer of Dangaard Telecom.

"We believe that the combined group will have the best in class platform to deliver the most innovative, efficient and effective solutions to global wireless handset manufacturers, network operators and retailers. The proposed transaction is extremely compelling and we believe that the combined company will enjoy substantial synergies and unique growth prospects," stated Christian Dyvig, Partner, Nordic Capital."

Posted to the site on 21st February 2007