Brightstar Corp’s acquisition of mobile distributor 20:20 Mobile has been formalized today, Mobile understands.
The final signing of the deal clears the way for Brightstar 20:20 Mobile to begin a major drive into European markets.
The acquisition makes Brightstar 20:20 one of the largest mobile distributors in Europe, operating in more than 50 countries, including Finland, Germany, Hungary, Italy, the Netherlands, Norway, Spain, Sweden, Poland, and Portugal. The distributor will serve over 200 operators and 50,000 retailers.
Marcelo Claure, founder and CEO Brightstar Corp said: '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.
'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.'
The company will be led by at European level by German Lopez, currently MD of 20:20 Mobile in Spain and Portugal, with Jim Michel as MD of Brightstar 20:20 UK. Michel has held key positions at Tech Data Mobile, Motorola and LG.
Brightstar announced its intention to buy 20:20 Mobile in December last year, after protracted negotiations which had begun a year previously.
The deal was finally closed today after meeting certain closing conditions.