INDIANAPOLIS-Brightpoint Inc. acquired complete ownership of its subsidiaries, Brightpoint China Ltd., Brightpoint Ltd. and Brightpoint Australia Pty Ltd.
The 20 percent interests were owned by members of management of each of the subsidiaries, the company said. Brightpoint exchanged cash and stock to acquire the interests, resulting in about 232,000 new Brightpoint Inc. shares outstanding.
In other news, Brightpoint International also reached an agreement to acquire the business and certain assets of Telnic AB, a Gothenburg, Sweden-based distributor of wireless communications equipment.
Telnic had 1996 sales of approximately $19.8 million. The acquisition is expected to close by then end of the month.
