Brightpoint, Inc. (Plainfield, Ind.) announced today that it has entered into a definitive stock purchase agreement for Brightpoint, Inc. to acquire all of the outstanding shares of Dangaard Telecom.
The boards of directors of Brightpoint, Inc. and Dangaard Holding, A/S have unanimously approved the proposed transaction. The proposed transaction is subject to customary closing conditions including, without limitation, certain regulatory approvals and the approval by Brightpoint's shareholders. Under the terms of the proposed transaction, Brightpoint, Inc. will issue 30 million newly issued shares of its common stock and $100,000 to Dangaard Holding A/S, an affiliate of Nordic Capital Fund VI, in exchange for all of the outstanding shares of Dangaard Telecom A/S.
"This transaction will join together two of the most prominent players in the wireless handset distribution and logistics industry to create the true global leader," said Robert J. Laikin, CEO and chairman of the board of Brightpoint. "I firmly believe our two companies complement each other perfectly in terms of geography, service offerings and shared commitment to operational excellence. Our vendors, customers, employees and shareholders will all benefit from the global platform created by this transaction."
"Our combined resources will allow us to leverage the capabilities and best practices from both companies in order to offer advanced wireless services to our customers and business partners in the many attractive markets around the world in which we operate," said Michael Koehn Milland, COO of Dangaard Telecom.
Source: Brightpoint Inc.
