DGAP-News: Brightpoint Enters Into Agreement to Create Malaysian Joint Venture With STC Group

Brightpoint, Inc.

09.12.2011 14:00
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INDIANAPOLIS, 2011-12-09 14:00 CET (GLOBE NEWSWIRE) —
Brightpoint, Inc. (Nasdaq:CELL) (together with its subsidiaries and affiliates
–Brightpoint–), a global leader in providing supply chain solutions to the
wireless industry, today announced that its subsidiary, Brightpoint
International (Malaysia) Sdn. Bhd. (–Brightpoint Malaysia–), has entered into
an agreement with STC Partners Sdn. Bhd. (–STC–) to create a joint venture in
Malaysia and purchase certain assets of STC. The joint venture, which will be
operated through Brightpoint Malaysia, will provide wireless device
distribution and logistic services to leading manufacturers, operators and
retailers in the Malaysian market. Brightpoint will own 60 percent of the joint
venture and STC will own 40 percent.

Brightpoint Malaysia will, in exchange for the assets that comprise the ongoing
Malaysian wireless business of STC, pay RM18.9 million (approximately US$6.1
million) to STC and transfer 40 percent ownership of Brightpoint Malaysia to
STC. In addition, Brightpoint Malaysia will purchase the fixed assets and
inventory held by STC. Brightpoint Malaysia has agreed to pay to STC contingent
cash earn-out payments, subject to the achievement of certain operating
performance measures, which may be payable after the anniversary of closing
through each of the first five operational years. The aggregate earn-out
payments shall in no event exceed RM35.1 million (approximately US$11.3
million) and the amount paid for STC–s fixed assets and inventory is currently
not anticipated to exceed RM15 million (approximately US$4.9 million).

The proposed transactions are expected to close in January, 2012, pending the
fulfillment of certain closing conditions. For additional details in connection
with these transactions, please refer to the Current Report on Form 8-K, which
Brightpoint, Inc. will file with the Securities and Exchange Commission today.

–We are excited to partner with STC and extend Brightpoint–s presence in Asia
Pacific to the Malaysian market,– stated Bruce Thomlinson, Brightpoint–s
President, Asia Pacific. –STC is an ideal strategic partner and we believe that
this transaction will allow us to extend our in-country capabilities along with
relationships with leading manufacturers and operators and further leverage our
capacity and ability to offer cost effective solutions, in Malaysia.–

–We are proud to build upon our success in the Malaysian market by partnering
with Brightpoint, a recognized global leader in the wireless industry supply
chain,– stated Bernard Siow, Chairman of STC Group. –We believe that this
collaboration will further broaden our business and raise our distribution and
logistics capabilities, which, together with leveraging our customer network,
will pave the way for us to be the leading wireless device distributor and
logistic services provider in the Malaysian market.–

About Brightpoint, Inc.

Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing end-to-end
supply chain solutions to leading stakeholders in the wireless industry. In
2010, Brightpoint handled approximately 99 million wireless devices globally.
Brightpoint–s innovative services include distribution channel management,
procurement, inventory management, repair services and reverse logistics,
software loading, kitting and customised packaging, fulfillment, product
customization, eBusiness solutions, and other outsourced services that
integrate seamlessly with its customers. Brightpoint–s effective and efficient
platform allows its customers to benefit from quickly deployed, flexible, and
cost effective solutions. Brightpoint has approximately 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 2010, Brightpoint generated revenue of $3.6
billion. Brightpoint provides distribution and customised services to over
25,000 B2B customers worldwide. Additional information about Brightpoint can be
found on its website at www.brightpoint.com, or by calling its toll-free
Information and Investor Relations line at 877-IIR-CELL (877-447-2355).

Certain information in this press release may contain forward-looking
statements regarding future events or the future performance of Brightpoint.
These statements are only predictions and actual events or results may differ
materially. Please refer to the documents Brightpoint files, from time to time,
with the Securities and Exchange Commission, including Brightpoint–s most
recent Form 10-K and Form 10-Q and Exhibit 99.1, thereto. These documents
contain and identify important risk factors that could cause the actual results
to differ materially from those contained in or implied by these
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements that speak only as of the date these
statements were made. Brightpoint undertakes no obligation to update any
forward-looking statements contained in this press release.

CONTACT: Brightpoint, Inc.
Tom Ward
Investor Relations
317-707-2745

Brightpoint, Inc.
Carolyn Manco
Media Relations
317-707-2276
News Source: NASDAQ OMX

09.12.2011 Dissemination of a Corporate News, transmitted by DGAP –
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP–s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Brightpoint, Inc.

United States
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ISIN: US1094734050
WKN:

End of Announcement DGAP News-Service

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