Brightpoint, Inc. and CellStar Corporation Agree to Form Joint Venture
in India
INDIANAPOLIS--(BUSINESS WIRE)--Jan. 15, 1998--Brightpoint, Inc., (NASDAQ:CELL - news) and CellStar
Corporation (NASDAQ:CLST - news) announced today that they have agreed to the establishment of a joint venture (''Joint
Venture'') to be located in India. It is anticipated that the Joint Venture will be engaged in the distribution of wireless
communications products and the provision of certain related value-added services to parties involved in the wireless
communications industry in India. The contemplated transaction is subject to the negotiation of a mutually acceptable definitive
agreement and the approval of the board of directors of Brightpoint, Inc. and CellStar Corporation.
Brightpoint, Inc. is a leading provider of distribution and value-added logistics services to the wireless communications
industry. Brightpoint facilitates the effective and efficient distribution of handsets and related accessories from leading
manufacturers to network operators, agents, resellers, dealers and retailers.
CellStar Corporation is a global integrated wholesaler and retailer of wireless phones and other wireless communications
products with operations in the United States, the Asia-Pacific Region, Latin America and the United Kingdom [NYSE:UKM
- news]. The Company is one of the world's largest non-carrier wholesale distributors of wireless phones for Motorola, Inc.
and Ericsson, Inc., and also distributes wireless phones for Nokia Mobile Phones, Inc. The Company is also a wholesale
distributor of wireless phones for QUALCOMM, Sony and NEC Corporation in the United States.
''Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news
release. A variety of factors could cause the Company's actual results to differ from the reported results expressed in such
forward-looking statements. Investors are referred to the Company's Cautionary Statements (Exhibit 99 to the Company's
most recent Form 10-Q), which statements are incorporated into this news release by reference.
Contact:
Brightpoint, Inc., Indianapolis, Indiana
Phillip A. Bounsall, 317/297-6100
OR
CellStar Corporation, Carrollton, Texas
Richard M. Gozia, 972/466-5000 |
