US-based Brightstar Corp, a specialized wireless products and services distributor has acquired the majority stake in Bharti Groups subsidiary, Beetel Teletech Limited, a leading company in the distribution and sale of communication and media devices in India, for an undisclosed amount.
Beetel will retain its name and all existing employees, and will continue operating from its headquarters in Gurgaon, India.
The acquisition will allow Brightstar to bring the latest mobile devices and accessories from top manufacturers for distribution through Beetel’s well-established distribution platform throughout India, said Brightstar in a statement.
"The Indian mobile market is entering the next phase of growth, which will be driven by data services on 3G and 4G technologies. The smartphone market in the country recorded triple-digit growth in 2013 and offers a huge opportunity going forward. The new mobile businesses and related technologies that Brightstar is bringing to Beetel will help drive significant growth by leveraging our deep distribution strength.”
- Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises
“India represents a tremendous growth opportunity for both devices and attached services as consumers continue to upgrade from feature to smartphones in record numbers. Beetel is a recognized leader in technology distribution in India, and we look forward to enhancing the company’s strong position.”
- Marcelo Claure, Founder and CEO, Brightstar Corp