INDIANAPOLIS, Dec. 23, 2010 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (Nasdaq:CELL) ("Brightpoint") today announced the successful completion of its acquisition by its wholly-owned indirect subsidiary, Touchstone Acquisition, LLC of Touchstone Wireless Repair and Logistics, L.P. ("Touchstone"), a leading provider of repair, remanufacture, and reverse logistics services to the wireless industry. The transaction was previously announced on December 13, 2010. By finalizing the acquisition, Brightpoint solidifies and extends its leadership position in the wireless supply chain solutions arena.
"Adding Touchstone's capabilities in the repair and reverse logistics arena increases the breadth and intrinsic value of Brightpoint's services and solutions portfolio available to our customers in more than 25 countries," said Robert J. Laikin, Brightpoint Chairman of the Board and Chief Executive Officer. "We believe that our customers, employees, and shareholders will all benefit from this transaction which we expect to be slightly accretive to our 2011 earnings per share. I want to personally welcome Touchstone's employees to the Brightpoint team."
Under the terms of the purchase agreement, Brightpoint paid $80 million in cash to acquire Touchstone. Brightpoint funded the purchase price from its Senior Revolving Credit Facility.
About Brightpoint, Inc.
Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing supply chain solutions to leading stakeholders in the wireless industry. In 2009, Brightpoint handled approximately 84 million wireless devices globally. Brightpoint's innovative services include distribution channel management, procurement, inventory management, software loading, kitting and customized packaging, fulfillment, product customization, eBusiness solutions, and other outsourced services that integrate seamlessly with its customers. Brightpoint's effective and efficient platform allows its customers to benefit from quickly deployed, flexible, and cost effective solutions. The company has approximately 2,700 employees in more than 25 countries. In 2009, Brightpoint generated revenue of $3.2 billion. Brightpoint provides distribution and customized services to more than 25,000 B2B customers worldwide. Additional information about Brightpoint can be found on its website at , or by calling its toll-free Information and Investor Relations line at 877-IIR-CELL (877-447-2355).
Certain information in this press release may contain forward-looking statements regarding future events or the future performance of Brightpoint, including without limitation, the ability to realize the anticipated efficiencies and other benefits of the transaction, including the accretion to earnings per share in 2011. These statements are only predictions and actual events or results may differ materially. Please refer to the documents Brightpoint files, from time to time, with the Securities and Exchange Commission, including Brightpoint's most recent Form 10-K and Form 10-Q and Exhibit 99.1, thereto. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release.
CONTACT: Brightpoint, Inc. Investor Relations Tom Ward 317-707-2745 Media Relations Carolyn Manco 317-707-2276