Brightstar

History

2020: SoftBank sold Brightstar

In the middle of September, 2020 SoftBank announced sale of the American supplier of the Brightstar mobile phones, having got rid thereby of the last telecommunication asset in the investment portfolio. Sale of Brightstar will fix transformation of SoftBank into the global investor and the asset manager, notes the Financial Times edition.

SoftBank gradually gets rid of the assets - the conglomerate already sold the British developer of chips Arm for $40 billion and also the share in business of T-Mobile of US. These transactions the Japanese giant intends to close a debt for the amount of $41 billion. It is known that SoftBank will sell the shares in Brightstar Global Group of recently created Brightstar Capital Partners subsidiary company - to the private equity fund with assets in $2.1 billion which is set up by the former operating officer of Brightstar Andrew Weinberg. Brightstar is not connected with Brightstar Global Group in any way.

SoftBank sold Brightstar

It is supposed that the means received from Brightstar Global Group will open a number of new opportunities before SoftBank. Under the terms of the agreement, SoftBank will save communications with Brightstar by acquisition of 25% of a share in new subsidiary company. The size of the transaction is not disclosed, but the sources close to the company said that SoftBank sells Brightstar business at a loss. The American company was purchased by SoftBank in 2014 for $1.7 billion.

It should be noted that the Brightstar company with the annual sales volume of $9 billion was founded by Marcelo Claure who became afterwards the chief operating officer of SoftBank. Claure also directed merge of SoftBank to the former competitor of T-Mobile and was appointed the chairman of WeWork to revive the unprofitable company on property sale in the USA purchased by SoftBank for $100 million^[1]

Notes