Likewize
Likewize (formerly Brightstar Corp.) is an American privately held corporation founded in 1997. It has greatly contracted since its heyday having downsized tenfold since 2014 highs.[1] Likewize offers device and accessories distribution, handset protection and insurance, and mobile digital products. In 2019, Brightstar was named by Forbes as one of "America's Best Midsize Employers".[2]
| Company type | Private |
|---|---|
| Industry | Wireless telecommunications |
| Founded | 1997 |
| Headquarters | Dallas, Texas, United States |
Key people | Rod Millar (CEO) |
| Products | Device and Accessories Distribution, Logistics, Supply Chain, Device Buyback and Trade-in, Handset Protection and Insurance, Multi-channel Retail and Mobile Financing Services, and Mobile Digital Solutions |
| Revenue | US$10 billion+ (2014) = US$1.2 billion (2023) |
Number of employees | 4,000 |
| Parent | SoftBank Group |
| Website | likewize |
History edit
Brightstar was founded by Marcelo Claure in 1997.[3]
Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011.[4]
In October 2013, Japanese SoftBank paid $1.26 billion for a 57% stake in Brightstar.[5]
In February 2014, Brightstar Corp. completed its acquisition of 20:20 Mobile, a European mobile provider.[6]
In July 2014, Brightstar Corp. and Bharti Enterprises announced that they entered into an agreement to have Brightstar acquire a majority stake in Beetel Teletech, a Bharti company.[7]
In February 2015, Jaymin Patel was appointed CEO of the company, replacing Claure.[8]
In June 2018, Brightstar acquired Next Wireless Group, an online seller of used smartphones.[9] In August 2018, Jaymin Patel resigned as CEO of the company.[8] Reza Taleghani, Brightstar's CFO became interim CEO of the company.[8] As of June 2019, Rod Millar serves as CEO of the company.[10]
In November 2019, Brightstar acquired Risk Insure which will enable Brightstar "to broaden its portfolio in the wireless industry."[11]
In April 2020, the company acquired WeFix.[12] In September, SoftBank sold the company to Brightstar Capital Partners for an undisclosed amount.[13]
In May 2021, the company left the Swedish market due to a “unfair and discriminatory treatment” by the Swedish Tax Agency. The Swedish tax authority have made a claim of SEK 295m (USD $35m) for outstanding VAT payments after being the company was exposed as a knowing participant in a hundred million dollar scam against the Swedish state.[14][15]
In September 2021 the company announced it was rebranding to reflect a new services direction. Under the new name “Likewize,” the company is focusing on its Protect, Repair, Renew and Support capabilities, showcasing its move to provide a range of tech services, in-store and at-home repair, recycling and support. [16]
The company's headquarters are located in Dallas, Texas.[8]
References edit
- ^ . Archived from the original on 2012-11-01.
- ^ "Forbes Names Brightstar As One Of "America's Best Midsize Employers" For 2019". EconoTimes. 2019-12-16. Retrieved 2020-08-24.
- ^ Gale, Kevin (18 October 2013). "How Brightstar CEO Marcelo Claure turned a freebie into a $1.26 billion deal". South Florida Business Journal.
- ^ Partners, Mainsail (2011-04-05). "Brightstar Corporation Acquires eSecuritel". Mainsail. Retrieved 2020-11-20.
- ^ Carew, Sinead (2013-10-18). "SoftBank to spend $1.26 billion for majority Brightstar stake". Reuters. Retrieved 2020-07-31.
- ^ "BRIGHTSTAR EXPANDS GLOBAL PRESENCE WITH ACQUISITION OF 20:20 MOBILE GROUP IN EUROPE". Yahoo Finance. 5 December 2013. Retrieved 2020-07-31.
- ^ "Brightstar acquires majority stake in Bharti Group's Beetel Teletech". The Economic Times. Retrieved 2020-07-31.
- ^ a b c d Reiser, Emon (12 July 2018). "Brightstar Corp. CEO to resign". South Florida Business Journal.
- ^ Reiser, Emon (19 June 2018). "SoftBank Group Corp. subsidiary buys online seller of used smartphones". South Florida Business Journal.
- ^ Sladky, Lynne (2019-10-25). "SoftBank hopes new WeWork leader will be 'guided missile' to fix it". Los Angeles Times. Retrieved 2020-07-31.
- ^ "BrightStar Corp. Acquires Right Insure". NuWireInvestor. 2019-11-21. Retrieved 2020-08-24.
- ^ McCaskill, Steve (21 April 2020). "Brightstar acquires device repair firm WeFix". TechRadar. Retrieved 2020-07-31.
- ^ Narioka, Kosaku; Dvorak, Phred (2020-09-18). "SoftBank Sells Brightstar, Carrying On Its Divestiture Spree". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-10-13.
- ^ Grill Pettersson, Mikael (2021-05-24). "Efter anklagelserna: Mobiljätten lämnar Sverige efter 45 år". SVT Nyheter (in Swedish). Retrieved 2021-05-24.
- ^ "Brightstar Corp. to withdraw from the Swedish Market due to unfair and discriminatory treatment by the Swedish Tax Agency". News Powered by Cision. Retrieved 2021-05-24.
- ^ "Brightstar's transformation into Likewize reflects new focus". FierceWireless. Retrieved 2021-09-01.