Tech Stock Alert: Brightpoint (Nasdaq:CELL) Leads NASDAQ Top Gainers Spiking over 60% on Acquisition News
Category: Investment, Technology
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News about Brightpoint, Inc.
New York, NY - July 2, 2012 (Investorideas.com Newswire) Investor Ideas, www.InvestorIdeas.com, a global investor research portal for independent investors, issues a tech stock trading alert for Brightpoint, Inc. (Nasdaq:CELL), gaining over 60% on acquisition news. The stock is trading at $8.84, up $ 3.43 (63.31%) 12:35PM EDT on over 23 Million shares.
Ingram Micro Inc. (NYSE:IM) and Brightpoint, Inc. (Nasdaq:CELL) announced today they have entered into a definitive agreement under which, subject to customary closing conditions, Ingram Micro will acquire all of the outstanding shares of BrightPoint common stock for $9.00 per share in cash, a 66 percent premium to BrightPoint's closing stock price on June 29, 2012, and a 35 percent premium to the 90-day average trading price. The transaction is valued at approximately $840 million, including the value of approximately $190 million of BrightPoint's estimated debt (net of cash), as of June 30, 2012.
The Company also announced preliminary estimates on certain aspects of its financial results for the quarter ended June 30, 2012.
About Brightpoint, Inc.
Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing device lifecycle services to the wireless and high-tech industries. In 2011, BrightPoint handled more than 112 million wireless devices globally. BrightPoint's 5 key service areas - Plan, Market, Customize, Move, Recover, offer over 110 innovative services, such as distribution channel management, procurement, inventory management, reverse logistics and repair services, software loading, kitting and customized packaging, fulfillment, product customization, eBusiness solutions, and other outsourced services that integrate seamlessly with its customers' IT systems and operations. BrightPoint's effective and efficient platform allows its customers to benefit from rapidly deployed, flexible and cost effective solutions. BrightPoint has more than 4,000 employees, as well as a significant number of temporary staff, and a global footprint covering more than 35 countries, including 13 Latin American countries through its investment in Intcomex, Inc. In 2011, BrightPoint generated revenue of $5.2 billion, from customers in over 75 countries. BrightPoint provides distribution and customized services through over 100,000 points-of-sale and to over 25,000 B2B customers worldwide. website at www.BrightPoint.com
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