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BrightPoint Selling Company To California Based Rival
Updated May 5, 2013 12:11 AM | Filed under: Network Indiana
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(UNDATED) - Indianapolis-based BrightPoint is selling out to a bigger rival.

Technology distributor Ingram Micro of Santa Ana, California will pay about $650-million in cash for BrightPoint. BrightPoint distributes cell phones and other wireless devices to places around the world.

Ingram Micro will inherit BrightPoint's $190-million debt. Fortune 500 ranks BrightPoint 463rd. The company which was founded in 1989 is one of six Indiana-based businesses on Fortune's list.

BrightPoint reported $5.2-billion dollars in sales in 2011 with about 4,000 employees at factories located in 24 countries.

The buyout requires approval from a majority of BrightPoint shareholders.

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