INDIANAPOLIS-Brightpoint Inc. announced it has signed a letter of intent to exchange 2.5 million newly issued shares of Brightpoint common stock for all of the outstanding stock of Allied Communications Inc. and related companies.
Allied Communications, a distributor of wireless communications equipment throughout the United States and Latin America, expects to report $150 million in 1995 sales, Brightpoint said.
Brightpoint said it plans to combine its facility in south Florida with the nearby Allied facility to more efficiently serve the wireless communications markets in Latin America. The combined company anticipates opening a new facility on the West Coast following completion of the merger.
The companies said they plan to sign a definitive agreement by mid-February and close the merger by May.
