SoftBank has announced plans to sell Brightstar for an undisclosed sum, as the company continues to divest of its telecoms properties.
SoftBank said Brightstar would be sold to a newly formed subsidiary of private equity company Brightstar Capital Partners for cash. Softbank will retain 25% ownership in the new unit.
SoftBank acquired a majority stake in Brightstar in 2013 for $1.26 billion, and took it’s CEO Marcelo Claure to run Sprint.
The deal is expected to close by March, 2021, subject to regulatory approvals.
In addition, Softbank recently announced a $40 billion deal to sell chip designer ARM to NVIDA.—
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