Following the transaction, whose completion is subject to customary regulatory approvals, SoftBank will own approximately 57% and Founder, Chairman and CEO Marcelo Claure will own approximately 43% of Brightstar shares on an outstanding basis. The investment values Brightstar at $2.2 billion, including its existing debt.
The company will use the proceeds to continue to scale operations. Brightstar will become the exclusive provider of handsets, accessories, and services to SoftBank telecommunications affiliates. Both companies will leverage Brightstar’s local presence in over 50 countries to commercialize products and services offered by SoftBank its affiliates, and its investment companies reaching more than 90,000 points of sale worldwide, more than 200 mobile network operators, 40,000 retailers, and 15,000 enterprises.
With global headquarters in Miami, FL, Brightstar is a large specialized wireless distributor and a 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. It currently has a local presence in over 50 countries, earning revenues in excess of $7 billion and EBITDA of approximately $260m for the 12 months ending June 2013.