Brightstar Expands with Acquisition of 20:20 Mobile Group in Europe
Published on: 9th Dec 2013
By: Ian Mansfield
Handset distributor Brightstar has announced that it is buying European rival 20 20 Mobile. The company said that the acquisition will enable it to more easily serve the entire European marketplace.
20:20 Mobile currently serves over 3,500 customers with annual turnover of nearly £1 billion. Brightstar will acquire facilities in the UK, Spain, Hungary, Portugal, Denmark, Finland, Norway, and Sweden, and provide products and services across 13 European countries.
Marcelo Claure, Brightstar's president and CEO, said, "With the strategic acquisition of 20:20 Mobile, Brightstar has a strong position in the European market, one of the most exciting and progressive markets in the world. Bringing the team of 20:20 Mobile into the Brightstar family will allow us to deliver some of the top innovations and services developed for mobility to the operators, retailers and manufacturers that are leading the wireless industry in Europe."
The acquired company will be renamed "Brightstar 20:20".
The acquisition is expected to close early in the first quarter of 2014 pending certain closing conditions.