INDIANAPOLIS, April 20, 2011 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (Nasdaq:CELL), a global leader in providing supply chain solutions to the wireless industry, today announced the successful completion of its strategic investment in Intcomex, Inc. by its wholly-owned Miami-based subsidiary, Brightpoint Latin America, Inc. ("Brightpoint Latin America"). The transaction was previously announced on March 16, 2011. Intcomex is a leading Information Technology (IT) distributor focused solely on Latin America and the Caribbean. The completion of this investment positions Brightpoint to significantly expand its presence in the wireless markets in Latin America and the Caribbean, and offers Brightpoint customers and vendors access to Intcomex's established network of resellers, retailers and customers. Brightpoint Latin America joins Citi Venture Capital International (CVCI) and Anthony and Michael Shalom as significant owners of Intcomex.
"This investment aligns with Brightpoint's global strategy to both expand our geographic footprint and increase the breadth and value of services and solutions we offer our customers and vendors," stated J. Mark Howell, President, Brightpoint Americas. "We are excited to bring our unique wireless supply chain solution capabilities to customers throughout Latin America and the Caribbean."
Under the terms of the agreement, Brightpoint invested $15 million, subject to working capital adjustments set forth in the agreement, and contributed certain of its Latin American operations, excluding certain legacy business in Puerto Rico. By finalizing the agreement, Brightpoint Latin America now owns 23 percent of the outstanding common stock of Intcomex and J. Mark Howell, President, Brightpoint Americas, has been appointed as a member of the Intcomex Board of Directors.
About Intcomex, Inc.
Intcomex, Inc., a CVCI portfolio company, is a US-based value-added distributor of IT products to Latin America and the Caribbean. Intcomex distributes computer equipment, components, peripherals, software, computer systems, accessories, networking products and digital consumer electronics to more than 44,000 customers in 41 countries. Intcomex also delivers a unique set of services including training on new products, technical support, warranty services and assistance with customs, duties and taxes. Intcomex prides itself on its outstanding technical support areas, efficient shipping and receiving procedures and effective return-to-manufacturer authorization processes. The driving force behind Intcomex's overall success is its commitment to fulfill the needs of its customers.
About Brightpoint, Inc.
Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing end-to-end supply chain solutions to leading stakeholders in the wireless industry. In 2010, Brightpoint handled approximately 99 million wireless devices globally. Brightpoint's innovative services include distribution channel management, procurement, inventory management, repair services and reverse logistics, 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 4,000 employees in more than 25 countries. In 2010, Brightpoint generated revenue of $3.6 billion. Brightpoint provides distribution and customized services to over 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. 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. Tom Ward Investor Relations 317-707-2745 Brightpoint, Inc. Carolyn Manco Media Relations 317-707-2276