Softbank Group sells mobile retailer and lifecycle management company Brightstar in the former's recent asset sale. Financial terms for the sale to Brightstar Capital Partners (BCP), a private equity firm run by a former Brightstar COO but not related to the company, were not disclosed, other than that it was being sold for cash and a 25% stake. in the new subsidiary. Brightstar was acquired by Softbank in 2014, in part to support its mobile operators such as Sprint in the United States and its namesake Softbank Corp in its home country. However, the Japanese giant has now reduced its holdings both after the former's merger with T-Mobile and with the sale of shares in the latter.
Brightstar offer
Brightstar works behind the scenes of the mobile industry, helping mobile operators, device manufacturers and retailers throughout the lifecycle of a smartphone and tablet. Its portfolio includes supply chain, logistics, insurance, recovery and repair services, as well as being a major player in mobile accessories. Essentially, the company plays an important role in promoting and providing the services and support that consumers and businesses receive from their operator or manufacturer. Softbank has sought to sell some of its blue chip assets to boost its cash reserves and balance its books after several failed investments, including WeWork. Earlier this month, it reached a €40 billion deal to sell the UK-based chipmaker's stakes to Nvidia, though the deal faces regulatory and political hurdles. Marcelo Calure, who founded Brightstar and has since become Softbank's COO, said: “Since I founded Brightstar more than 20 years ago, the company has grown tremendously and has become an end-to-end leader for the life cycle of the device. “I am extremely proud of what Brightstar has accomplished over the years and excited about its future. it looks forward to partnering with BCP as Brightstar enters its next phase of growth. "