Key Developments For Brightpoint, Inc.
Brightpoint, Inc. (CELL.O) (Nasdaq)
Brightpoint, Inc. And Time Warner Cable Inc. Sign Supply Chain Solution Agreement
Brightpoint, Inc. announced that it has entered into an agreement with Time Warner Cable Inc. to provide a suite of integrated supply chain solutions that include transportation management, inventory management, device customization, fulfillment, and reverse logistics. Pursuant to this agreement, Brightpoint will provide Time Warner Cable with these services to support their launch of Road Runner Mobile including wireless data card, accessory and collateral fulfillment and returns, triage and repairs.
Brightpoint, Inc. Enters Into Agreement To Settle Indemnity Claims and Repurchase 3 Million Shares From Shareholder
Brightpoint, Inc. announced that the Company has entered into a settlement agreement with NC Telecom Holding A/S (NC Holding), which provides for Brightpoint to purchase 3 million Brightpoint shares from NC Holding for $15.5 million under the previously announced share repurchase program. Under the settlement agreement, the Company's indemnification claims previously made against NC Holding pursuant to the Dangaard acquisition agreement have been settled. In addition, the settlement agreement provides that NC Holding will no longer have the right to designate any candidate to be considered to serve on the Company's Board of Directors and that Thorleif Krarup has agreed to immediately resign from the Board of Directors.
Brightpoint, Inc. To Provide Reverse Logistics Services For Boost Mobile
Brightpoint, Inc. announced that its subsidiary, Brightpoint North America L.P. (Brightpoint), has signed a multi year reverse logistics agreement with Boost Mobile. Pursuant to the agreement, Brightpoint will perform all reverse logistics services for Boost Mobile. Combined with Brightpoint's existing Forward Logistics services provided to Boost, this will permit all Boost Authorized Representatives (both Agents and Retailers) to use a single solution for ordering and returning products. These services involve processing returns of Boost branded mobile phones and include, but are not limited to: receiving/inspecting, reflashing, refurbishing/repairing, repackaging, shipping and recycling.
Brightpoint, Inc. Announces Logistics Agreement With Tele2
Brightpoint, Inc. announced that its subsidiary Brightpoint Sweden AB (Brightpoint) has entered into an agreement with Tele2 Sverige AB (Tele2). Pursuant to this agreement, Brightpoint will provide a fully integrated solution by providing distribution, warehousing, project management, packaging and additional aftermarket services such as returns and end customer support for Tele2.
Brightpoint, Inc. Announces $50 Million Share Repurchase Program
Brightpoint, Inc. announced that the Company's Board of Directors approved the repurchase of up to $50 million of its common shares. The program is effective immediately and will expire on July 31, 2011. Repurchases may be made from time to time through open market or privately negotiated transactions or otherwise. This is the only share repurchase program in place currently.
