MIAMI—Mobile-phone distributor Brightstar Corp. received a $50 million investment from partner Mitsui & Co. Ltd.
Brightstar said it plans to use the cash to expand its new operations in Southeast Asia including the markets of Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Mitsui and Brightstar are working together in Australia and said they will jointly evaluate other opportunities in the Asia-Pacific market.
Mitsui becomes one of Brightstar’s largest investors under terms of the deal. The company also gains a seat on the distributor’s board of directors.
