OREANDA-NEWS. SoftBank Corp. announced that it has entered into agreements with the major shareholders of mobile device distributor Brightstar Corp. of the United States ("Brightstar") pursuant to which SoftBank will acquire Brightstar shares.

In the Transaction, SoftBank will invest a total of USD 1.26 billion (approx. JPY 124.7 billion) into certain U.S. subsidiaries. Such U.S. subsidiaries will purchase 100% of the shares of Brightstar for approximately USD 1.105 billion (approx. JPY 109.4 billion) cash consideration, and U.S. subsidiary shares as noted.

As a result of the Transaction, SoftBank will indirectly own approximately 57% of the voting power, and common stock, of the shares of a U.S. subsidiary that will own 100% of Brightstar, making Brightstar a subsidiary of SoftBank. Furthermore, SoftBank plans to gradually exercise the Warrant (defined below) to increase its ownership in the U.S. subsidiary to approximately 70% of the voting power, and common stock, over the five year period following step of “2. Transaction Method.”

Brightstar is the world's largest specialized wireless distributor*3 and a leading 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. Its services include Supply Chain Solutions, Handset Protection & Insurance, Buyback and Trade-in Solutions, Multi-Channel Retail Solutions, and Financial Services.

Today, Brightstar provides services in over 125 countries and has a local presence in over 50 countries.

SoftBank closed the acquisition of Sprint Nextel Corporation (the current Sprint Communications, Inc.) in July 2013, expanding its business operations from Japan to the U.S. By making Brightstar a subsidiary, SoftBank aims to strengthen its purchasing scale for mobile devices and further increase competitiveness both in Japan and the U.S.