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. Following the completion of the transaction, SoftBank will retain a minority stake in the Company.
Brightstar 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.
Headquartered in Miami, Florida, Brightstar is at the heart of the wireless ecosystem, serving carrier, retail, and enterprise customers across approximately 50 countries. The Company operates at every stage of the device lifecycle, providing integrated services, including device protection insurance, supply chain management, and trade in services.
The transaction is expected to close before the end of SoftBank's fiscal year ending March 31, 2021. In connection with 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. SoftBank will receive cash proceeds and a 25% stake in the newly formed subsidiary.
Rod Millar, CEO of Brightstar
Our partnership with BCP provides us with additional resources and relationships to foster our continued growth and capitalize on the vast market opportunities in mobility and handset protection.
Marcelo Claure, Founder of Brightstar and COO of SoftBank Group
Since I founded Brightstar over 20 years ago, the Company has grown tremendously and become a leader of end-to-end device lifecycle solutions.
