softbank acquires brightstar

Brightstar works behind-the-scenes in the mobile industry, assisting mobile operators, device manufacturers and retailers during the entire lifecycle of a smartphone and tablet. Pursuant to the terms of the transaction, BCP will own a 75% stake, on a fully diluted basis, in a newly formed subsidiary of BCP, which will hold all shares of Brightstar’s parent company, Brightstar Global Group Inc. SoftBank will receive cash proceeds and a 25% stake in the newly formed subsidiary. Brightstar simplifies the wireless world, making mobile technology accessible to everyone. Brightstar was acquired by Softbank back in 2014, partly to support its mobile operators such as Sprint in the US and eponymous Softbank Corp in its home country. 2018 © Brightstar Capital Partners. Related Article. Brightstar, a subsidiary of SoftBank Group Corp. ("SoftBank"), is the global leader of end-to-end device lifecycle solutions for carriers, retailers, and enterprise, managing mobile devices and accessories across the wireless ecosystem and providing services with a particular emphasis on device protection. We work with carrier, retail and enterprise customers in approximately 50 countries, touching every stage of a device’s lifecycle, from when it’s manufactured to the moment it’s time to trade it in and re-market it. Doug Allen/Zach Kouwe 305-921-1150, Brightstar Capital Partners Rod Millar is the Chief Executive Officer of Brightstar Corp., a subsidiary of SoftBank Group and a global leader of end-to-end solutions in mobile device lifecycle management. Mobile tech giant Brightstar Corp. has acquired a global seller of new and used devices including smartphones. Brightstar Corp. said Wednesday it plans to acquire a division of Tokyo-based SoftBank BB Corp., a distributor of communications technology and mobile accessories. Softbank Group is selling mobile distributor and lifecycle management firm Brightstar as part of the former’s recent sale of assets. 212-704-7385, For Brightstar Corp: Brightstar—the global leader of end-to-end device lifecycle management solutions—announced it has acquired Risk Insure, enhancing its device protection service across Australia and New Zealand. About Brightstar Corp. brightstar@dplr.com All rights reserved. Matt Holland Newly founded private equity firm Brightstar Capital Partners (BCP) has bought a majority stake in mobile device distributor Brightstar Corp from multinational tech conglomerate SoftBank. In October 2013, Japanese SoftBank paid $1.26 billion for a 57% stake in Brightstar. The Vision Fund is a $100 Billion fund established in 2016 and has invested in companies such as Uber, with its stake in Nvidia acquired in 2017 when the … TechRadar is part of Future US Inc, an international media group and leading digital publisher. Following the completion of the transaction, SoftBank will retain a minority stake in the Company. 212-430-2500. You will receive a verification email shortly. SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo.SoftBank owns stakes in many technology, energy, and financial companies. Earlier this month it agreed a $40 billion deal to sell UK-based chip designer Arm holdings to Nvidia, although that deal will face regulatory and political hurdles in order to be completed. Our customers, partners and employees are excited about the possibilities with our new owners.”. Softbank has looked to sell some of its more blue-chip assets in order to increase its cash reserves and balance its books after several failed investments – most notably WeWork. Brightstar Capital Partners (BCP), a private equity firm announced that it has signed an agreement to acquire a majority stake in Brightstar from Softbank Group. Enter your email address so we can get in touch. Brightstar Corp was founded in 1997 by Marcelo Claure, who currently serves as SoftBank’s chief operating officer. Retains Minority Stake in Brightstar Corp. New York, NY and Miami, FL, October 22, 2020 – Brightstar Capital Partners (“BCP”), a private equity firm focused on partnering with founders, entrepreneurs and management teams, announced today the completion of the previously announced acquisition of a majority stake in Brightstar Corp. (“Brightstar” or the “Company”), in partnership with the Company’s senior management team. Brightstar entered the Indian market after acquiring a majority stake in Beetel Teletech in 2014. Masayoshi Son, who entered the U.S. wireless market with the Sprint merger, has a "300-year vision" that may include Brightstar. This is M&A deal 391 that ChannelE2E has covered so far in 2020. SoftBank took a majority stake in the company in 2013, a deal worth $1.26 billion at the time. ... Brightstar acquires … Brightstar Capital Partners is a private equity firm focused on partnering with exceptional founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. There was a problem. Please refresh the page and try again. NY 10036. Marcelo Calure, who founded Brightstar and has since risen to COO at Softbank, said: “Since I founded Brightstar over 20 years ago, the company has grown tremendously and become a leader of end-to-end device lifecycle solutions. SAN FRANCISCO (August 5, 2010) and TOKYO (August 6, 2010) — Zynga today announced that it has acquired Tokyo-based Unoh, one of Japan's leading social games companies. Essentially, the company plays a significant role in powering and delivering the services and support received by consumers and businesses from their operator or manufacturer. Twitter; Facebook; LinkedIn; GooglePlus; Pinterest; Sep 18 2020 02:42 BST. Unoh will be part of the foundation of Zynga Japan's mobile product effort, which will be a joint venture between SOFTBANK Group and Zynga, and accelerate Zynga Japan's entry into the Japanese Social Gaming … The company is known for its leadership by founder Masayoshi Son. The Miami-based subsidiary of SoftBank Group Corp. … “This is an exciting day for BCP and Brightstar Corp.,” said Andrew Weinberg, BCP Founder and CEO. “I am incredibly proud of what Brightstar has accomplished over the years and excited for its future. Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011. An affiliate of SoftBank Group Corp. (“SoftBank”), the Company’s prior owner, will retain a minority stake in the Company. New York, NY 10019 Please deactivate your ad blocker in order to see our subscription offer, PS5 restock update: here's the next likely order date if the schedule holds, Where to buy PS5: all the latest updates as more restock dates rumored, Samsung Galaxy S21 cameras show up in first real world photo leak, Cyberpunk 2077 at 4K max details is a strain for even the Nvidia RTX 3090, Star Trek: Strange New Worlds: release date, cast and what we know, Cyberpunk 2077 shows why DLSS is pretty much mandatory for 4K next-gen gaming. Softbank will retain a minority stake in Brightstar, the companies said. SoftBank Group Corp. The company operates in approximately 50 countries. Brightstar was acquired by Softbank back in 2014, partly to support its mobile operators such as Sprint in the US and eponymous Softbank Corp in its home country. 650 Fifth Avenue, 29th Floor Brightstar, a subsidiary of SoftBank Group Corp. (“SoftBank”), is the global leader of end-to-end device lifecycle solutions for carriers, retailers, and enterprise, managing mobile devices and accessories across the wireless ecosystem and providing services with a … Brightstar was founded by Marcelo Claure in 1997. [Softbank Group] looks forward to partnering with BCP as Brightstar enters into its next phase of growth.”. © Retains Minority Stake in Brightstar Corp. Brightstar Capital Partners, a private equity firm focused on partnering with founders, entrepreneurs and management teams, announced that it has signed a definitive agreement to acquire a majority stake in Brightstar Corp., in partnership with the Company’s senior management team. Brightstar Capital Partners Acquires Majority Stake in Brightstar Corp., a Leading Global Provider of Mobile Device Lifecycle Management Services. It also runs Vision Fund, the world's largest technology-focused venture capital fund, with over $100 billion in capital.. Headquartered in Miami, Florida, Brightstar is a global leader of end-to-end device lifecycle solutions for carriers, retailers, and enterprise, managing mobile devices and accessories across the wireless ecosystem and providing services with a particular emphasis on device protection. Brightstar, a subsidiary of SoftBank Group, serves carrier, retail and enterprise customers and has operations in across 57 countries. “The wireless industry is growing and becoming more vital with each passing day, and we are confident our industry experience will help Brightstar continue to provide innovative services and solutions to global customers.”, “We are thrilled to start this next phase for Brightstar along with our partners at BCP,” said Rod Millar, CEO of Brightstar. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. Its portfolio includes supply chain, logistics, insurance, trade-in and repair services, while it is also a major player in mobile accessories. matt.holland@brightstar.com Do you have interesting content to share with us? SoftBank Group Corp. Pursuant to the terms of the transaction, BCP will own a 75% stake, on a fully diluted basis, in a newly formed subsidiary of BCP, which will hold all shares of Brightstar’s parent company, Brightstar Global Group Inc. SoftBank will receive cash proceeds and a 25% stake in the newly formed subsidiary. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement BrightStar Corp. Acquires Right Insure ... SoftBank has already demonstrated that the acquisition will provide a viable option to gain a competitive edge in the device protection market. For more information please visit www.brightstarcp.com. Sign up to get breaking news, reviews, opinion, analysis and more, plus the hottest tech deals! To learn more about Brightstar, please visit Brightstar.com or contact media@brightstar.com. However, the two companies did not disclose any further deal details. New York, Visit our corporate site. However, the Japanese giant now has reduced stakes in both following the former’s merger with T-Mobile and a sale of stock in the latter. Brightstar simplifies the wireless world, making mobile technology accessible to everyone. Brightstar Corp, the largest global subsidiary of SoftBank Group Corp, is the world’s leading Mobile Services & Technology Solutions Company. “BCP brings a knowledge of Brightstar and the industry that will allow us to accelerate our strategy of growing device protection, warranty, trade-in, and supply chain solutions. NEW DELHI: US-based Brightstar Corporation, a wireless products and services distribution company, has bought a majority stake in Bharti Group company Beetel Teletech, an enterprise solutions and IT products sales and distribution company. For BCP: Brightstar acquires C&S division of SoftBank BB Brightstar today announced it will acquire the Commerce and Services (C&S) division of Tokyo-based SoftBank BB (SBB), a leading distributor of ICT hardware and software products and mobile accessories in Japan. Financial terms of the deal were not disclosed. Future US, Inc. 11 West 42nd Street, 15th Floor, 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. No financial terms have been disclosed for the sale to Brightstar Capital Partners (BCP), a private equity firm headed by a former chief operating officer of Brightstar but unrelated to the company, other than that it has been sold for cash and a 25 per cent stake in the new subsidiary. Thank you for signing up to TechRadar. In 2018, Claure became SoftBank COO. FREMONT, CA: Brightstar Capital Partners (“BCP”), a private equity firm focused on partnering with founders, entrepreneurs, and management teams, announced the completion of the previously announced acquisition of a majority stake in Brightstar Corp., in partnership with its senior management team. Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. We are a global leader of end-to-end device lifecycle management solutions. Dukas Linden Public Relations That leverages its extensive experience and relationship network to help companies reach their potential... Devices including smartphones, SoftBank will retain a minority stake in the.... 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