Brightstar Completes Acquisition of 20:20 Mobile Group in Europe

MIAMI and LONDON, Feb. 7, 2014 /PRNewswire/ -- Brightstar Corp. announced today it has completed its acquisition of 20:20 Mobile, a leading provider of distribution and integrated supply chain solutions to the European mobile industry. 

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.

Through Brightstar 20:20, mobile operators, retailers and suppliers throughout Europe will have access to the best of 20:20 Mobile and Brightstar services, including value-added distribution, supply chain solutions, buy-back and trade-in services, handset protection and insurance, multi-channel retail services and financial solutions.

"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 Corp. "I want to thank the Brightstar and 20:20 Mobile teams who worked tirelessly to bring this deal to fruition, as well as 20:20 Mobile customers, who have been tremendously supportive of the new endeavor."

About Brightstar

Brightstar is the world's largest specialized wireless distributor and a leading provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers. For more information, please visit http://www.brightstarcorp.com.

Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to risks and uncertainties. All such forward-looking statements, whether written or oral, and whether made by or on behalf of Brightstar, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, Brightstar disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please visit http://www.brightstarcorp.com.

SOURCE Brightstar Corp.