Brightstar Completes Acquisition of 20:20 Mobile Group in Europe
Published on: 8th Feb 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Brightstar says that it has completed its acquisition of 20 20 Mobile a provider of distribution and supply chain to the European mobile industry.
The UK based firm was part of the telecoms group controlled by John Caudwell who also founded the Phones 4U retail chain - but sold them in 2006.
Brightstar's newest company, named Brightstar 20:20, serves the entire European marketplace with facilities in the UK, Spain, Hungary, Portugal, Denmark, Finland, Norway, and Sweden. Brightstar 20:20 currently serves more than 3,500 customers in 13 countries with annual revenues of nearly $1.6 billion.
The acquisition expands Brightstar's local presence to 55 countries on six continents.
"Brightstar 20:20 leverages our global distribution and logistics infrastructure, along with our strong supplier relationships, to deliver unmatched innovation and value for mobile operators and retailers in Europe," said Marcelo Claure, founder and CEO Brightstar.
Financial terms were not confirmed, but the company had been previously estimated to be worth around USD320 million.