Wireless phones and accessories distribution giant Brightpoint has acquired a 9.12 percent stake, about 470,000 shares, in TESSCO Technologies for $7.3 million. Brightpoint informed TESSCO's board that it will propose changes to TESSCO's "capitalization, ownership structure or operations." TESSCO facilitates the supply chain for its clients that design, build, maintain and use wireless products and accessories--everything from mobile phones to cell towers.
Brightpoint has quickly become the dominant force in the distribution of wireless products with an acquisition of U.S. rival CellStar in March and an acquisition of Europe's largest wireless distributor, Dangaard Telecom of Denmark in July.
For more on Brightpoint's interest in TESSCO:
- read this article from The Baltimore Sun