Brightstar Corporation has agreed to sell its 50% share of mobile communications distributor Brightstar Europe to Tech Data Corporation. The two companies, which both operate international distribution businesses, formed the joint venture in 2007.
Tech Data will pay Brightstar around $165.6 million for the deal, which is subject to regulatory approval. Brightstar Europe’s handset protection & insurance and buy-back & trade-in customers will be transferred to Brightstar as part of the agreement.