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SoftBank to take over mobile distributor Brightstar for $1.26 billion
2013-10-18 22:37:53| InfoWorld: Top News
Fresh from its acquisition of Sprint, Japan's SoftBank plans to take control of Brightstar, the dominant distributor of mobile devices in the U.S. and a global player serving more than 200 carriers. SoftBank has reached a definitive agreement to invest $1.26 billion in Brightstar and immediately gain a 57 percent stake in the company. It will have the option later to raise its ownership to 70 percent. The cash transaction, which SoftBank announced on Friday, will be carried out through a U.S. subsidiary.
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SoftBank to spend $1.26 billion for majority Brightstar stake
2013-10-18 22:16:23| Telecom - Topix.net
Japan's SoftBank Corp said on Friday it agreed to pay $1.26 billion for a 57 percent stake in privately held cellphone distributor Brightstar Corp as it looks to boost its bargaining power with handset makers.
Tags: spend
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Softbank invests JPY 1.26 bln in Brightstar
2013-10-18 20:27:00| Telecompaper Headlines
(Telecompaper) Brightstar has announced a definitive agreement for Softbank to invest JPY 1.26 billion in BrightStar. As part of the transaction, the Buying & Innovation Group, "BIG," a joint venture created to provide savings and efficiencies for Softbank, Sprint and Brightstar, will become a division of Brightstar. Softbank's investment, which values Brightstar at JPY 2.2 billion, including its existing outstanding debt, is the next step in Brightstar's evolution. As a result of the transaction, Brightstar will become the exclusive provider of handsets, accessories and services to certain Softbank telecommunications affiliates. In addition, Brightstar, leveraging certain assets of Softbank telecommunications affiliates, will buy more than JPY 20 billion in handsets, accessories and services. Both companies will leverage Brightstar's local presence in more than 50 countries to commercialise products and services offered by Softbank, its affiliates and its investment companies.
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SoftBank to spend $1.26 billion for majority Brightstar stake
2013-10-18 20:01:47| IT Services - Topix.net
Japan's SoftBank Corp said on Friday it agreed to pay $1.26 billion for a 57 percent stake in privately held cellphone distributor Brightstar Corp as it looks to boost its bargaining power with handset makers.
Tags: spend
majority
billion
stake
Softbank confirms talks for stake in Brightstar
2013-10-16 10:23:00| Telecompaper Headlines
(Telecompaper) Japanese carrier Softbank confirmed it's in talks to take a stake in US-based mobile phone distributor Brightstar. In response to a report in the Nikeei, Softbank said the "matter is under discussion", but no decision has been reached yet. According to the paper, Softbank is in the final stage of negotiations to buy a majority stake in Brightstar from an investment fund and other shareholders, with an eye on eventually boosting its interest to around 70 percent. The deal, estimated to be worth slightly more than JPY 100 billion, will be completed as early as this year.
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