Mobile phone distributor Brightpoint Inc. said Tuesday it will buy Denmark-based Dangaard Telecom.
Brightpoint will issue 30 million shares of its stock and $100,000 for exchange of all shares of Dangaard, which is a privately held portfolio company of Nordic Capital Fund VI and said it is the largest distributor of cell phones and accessories in Europe.
The combined company will have $4.6 billion in annual sales, more than 3,100 employees and 25,000 customers in 25 countries, Brightpoint said. The companies moved a combined 64 million devices last year, Brightpoint said.
The deal faces customary shareholder and regulatory approvals and is expected to close in June or July.
“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,” stated Robert J. Laikin, chairman and CEO 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.”
The companys corporate headquarters will be in Plainfield, Ind., and the European headquarters will be in Padborg, Denmark.
Deutsche Bank Securities acted as sole financial adviser and Blank Rome LLP acted as legal counsel to Brightpoint. Latham & Watkins LLP was legal counsel for Dangaard.
Brightpoint Inc. www.brightpoint.com
Dangaard Telecom www.dangaard.com