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Telecommunications Mitsui puts $US50m into Brightstar, takes board seat
Telecommunications Mitsui puts $US50m into Brightstar, takes board seat | Mitsui puts $US50m into Brightstar, takes board seat |
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| by Stuart Corner | |
| Tuesday, 15 August 2006 | |
  
Brightstar flagged plans for an alliance with Mitsui two years ago, in a filing stating: "We intend to enter into a business collaboration agreement with Mitsui & Co Ltd and Mitsui & Co (USA) or, collectively, Mitsui, which may help in our potential expansion into Asia." The two companies are already working together in Australia and have agreed to "jointly evaluate opportunities in the fast-growing Asia-Pacific market." The intend to focus on Brightstar's new operations in Southeast Asia. In July Brightstar opened regional headquarters in Singapore to support the Philippines, Malaysia, Indonesia, Thailand and Vietnam. Mitsui's information, electronic and telecommunications business unit claims to "focus on the fast-growing mobile handset business as one of its key business domains." It has been active in the business of selling system solutions, providing mobile content service, and distributing mobile handsets, through both domestic and overseas subsidiaries and partners. The company says it "seeks to further expand its mobile related business overseas by strengthening its business collaboration and alliance with Brightstar." Brightstar, formed in 1997, now has more than 40 facilities delivering devices and solutions in over 30 countries. In the year to 31 December 2005, revenue was in excess of $US2.2 billion in revenue, making it the largest wireless distribution and supply chain solutions company in the world. |
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