Tech Data Purchases European Mobility Business
Tech Data has reached an agreement to acquire Brightstar's 50 percent ownership interest, or about $166 million, in Brightstar Europe Limited (BEL), a pan-European provider of distribution and integrated supply chain solutions for the mobility industry.
Five years ago, the companies formed a joint venture to help Tech Data enter the European wireless and mobile technology market.
"Our European mobility business is a key element in our strategy of diversifying into higher-growth, higher-return specialty areas," said Tech Data CEO Bob Dutkowsky in a statement. "What began as a greenfield operation with Brightstar in 2007 is now a well-established, European mobility market leader with sales of approximately $1.8 billion in our last fiscal year."