Redington, a supply chain solutions company, will buy Brightstar Turkey through its step-down Turkey subsidiary Arena Bilgisayar Sanayi Ve Ticaret AS.
Redington’s subsidiary will acquire 100% of Brightstar Turkey for $35 million (Rs 257.7 crore).
Brightstar Corp, a US-based device lifecycle management services provider, will sell its subsidiary for a tenth of the unit’s annual revenue. In 2020 the company’s Turkish arm reported $342 million in revenue versus $430 million in 2019.
Currently, Brightstar Turkey's operations primarily consist of value-added distribution of leading brands of smartphones, devices, consumer electronics, and accessories to telecom operators.
Redington said that the acquisition of Brightstar Turkey could deliver significant strategic value.