National business law firm DWF has advised the management team of 20:20 Mobile, the mobile phone distributor with an annual turnover of almost £1bn, on its sale to US business Brightstar Corp, one of the world's largest wireless distribution companies.
The deal, which is due to complete in the first quarter of 2014, will see all of 20:20 Mobile's UK and European operations become part of Brightstar, enabling the company to better serve the entire European market. Brightstar already serves more than 200 operators and 50,000 retailers, with a local presence in more than 50 countries. In the UK it also owns London-based Mobile Phone Xchange.
Marcelo Claure, president and chief executive of Brightstar, said: "Bringing the 20:20 Mobile team into the Brightstar family will allow us to deliver some of the top innovations and services developed for mobility to the operators, retailers and manufacturers that are leading the wireless industry in Europe."
20:20 Mobile will also be renamed Brightstar 20:20 and will be led by German Lopez, managing director of 20:20 Mobile in Spain and Portugal, who will become president of its European operations.
Advising 20:20 Mobile on the deal, corporate partner Frank Shephard commented: "DWF has a great deal of expertise in the telecommunications sector and we were well placed to advise on this strategic acquisition, which will further enhance Brightstar's position in the European market."