All rights reserved. SoftBank took a majority stake in the company in 2013, a deal worth $1.26 billion at the time. 2018 © Brightstar Capital Partners. ... Brightstar acquires … Sign up to get breaking news, reviews, opinion, analysis and more, plus the hottest tech deals! 305-921-1150, Brightstar Capital Partners 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. 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. Softbank will retain a minority stake in Brightstar, the companies said. 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. The Miami-based subsidiary of SoftBank Group Corp. … 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 … Visit our corporate site. You will receive a verification email shortly. Softbank Group is selling mobile distributor and lifecycle management firm Brightstar as part of the former’s recent sale of assets. 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. We are a global leader of end-to-end device lifecycle management solutions. Enter your email address so we can get in touch. 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. 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. Future US, Inc. 11 West 42nd Street, 15th Floor, Brightstar Corp was founded in 1997 by Marcelo Claure, who currently serves as SoftBank’s chief operating officer. Matt Holland 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 … New York, NY 10019 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 … Do you have interesting content to share with us? Doug Allen/Zach Kouwe Brightstar simplifies the wireless world, making mobile technology accessible to everyone. 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. An affiliate of SoftBank Group Corp. (“SoftBank”), the Company’s prior owner, will retain a minority stake in the Company. To learn more about Brightstar, please visit Brightstar.com or contact media@brightstar.com. The company operates in approximately 50 countries. 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. New York, Dukas Linden Public Relations 650 Fifth Avenue, 29th Floor “This is an exciting day for BCP and Brightstar Corp.,” said Andrew Weinberg, BCP Founder and CEO. 212-704-7385, For Brightstar Corp: 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. 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. 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. “I am incredibly proud of what Brightstar has accomplished over the years and excited for its future. In 2018, Claure became SoftBank COO. 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. matt.holland@brightstar.com 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. 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. 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. Masayoshi Son, who entered the U.S. wireless market with the Sprint merger, has a "300-year vision" that may include Brightstar. SoftBank Group Corp. 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. 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. Related Article. Its portfolio includes supply chain, logistics, insurance, trade-in and repair services, while it is also a major player in mobile accessories. Mobile tech giant Brightstar Corp. has acquired a global seller of new and used devices including smartphones. For BCP: Brightstar Corp, the largest global subsidiary of SoftBank Group Corp, is the world’s leading Mobile Services & Technology Solutions Company. Brightstar was founded by Marcelo Claure in 1997. It also runs Vision Fund, the world's largest technology-focused venture capital fund, with over $100 billion in capital.. About Brightstar Corp. Brightstar Capital Partners Acquires Majority Stake in Brightstar Corp., a Leading Global Provider of Mobile Device Lifecycle Management Services. This is M&A deal 391 that ChannelE2E has covered so far in 2020. 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. 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. Following the completion of the transaction, SoftBank will retain a minority stake in the Company. 212-430-2500. There was a problem. Our customers, partners and employees are excited about the possibilities with our new owners.”. 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. Brightstar, a subsidiary of SoftBank Group, serves carrier, retail and enterprise customers and has operations in across 57 countries. In October 2013, Japanese SoftBank paid $1.26 billion for a 57% stake in Brightstar. “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. 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. 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. However, the two companies did not disclose any further deal details. 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. Thank you for signing up to TechRadar. Financial terms of the deal were not disclosed. “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. The company is known for its leadership by founder Masayoshi Son. Twitter; Facebook; LinkedIn; GooglePlus; Pinterest; Sep 18 2020 02:42 BST. SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo.SoftBank owns stakes in many technology, energy, and financial companies. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. NY 10036. Please refresh the page and try again. Brightstar entered the Indian market after acquiring a majority stake in Beetel Teletech in 2014. © 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. Brightstar Corp. said Wednesday it plans to acquire a division of Tokyo-based SoftBank BB Corp., a distributor of communications technology and mobile accessories. 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. Brightstar simplifies the wireless world, making mobile technology accessible to everyone. [Softbank Group] looks forward to partnering with BCP as Brightstar enters into its next phase of growth.”. 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. Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011. For more information please visit www.brightstarcp.com. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement 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. 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. 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. brightstar@dplr.com TechRadar is part of Future US Inc, an international media group and leading digital publisher. Group ] looks forward to partnering with BCP as Brightstar enters into its next phase of growth. ” of. For its leadership by founder Masayoshi Son, who entered the U.S. market! 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