Redington (India) subsidiary to acquire Brightstar Turkey for $29m

Redington (India) Limited, a supply chain solution provider, said that its Turkey-based step-down subsidiary Arena Bilgisayar Sanayi Ve Ticaret has agreed to acquire Brightstar Telekomünikasyon Dağıtım (Brightstar Turkey) for $29 million in cash.

Brightstar Turkey is engaged in the value-added distribution of major brands of smartphones, consumer electronics, devices, and accessories to telecom operators.

For the calendar year 2020, Brightstar Turkey had a turnover of $342 million.

The acquisition by Arena Bilgisayar Sanayi Ve Ticaret is subject to regulatory approvals such as the Turkish Competition Board and the meeting of certain mutually agreed conditions. It is expected to close by the end of this month.