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Likewize

From Wikipedia, the free encyclopedia
(Redirected fromBrightstar Corporation)
American company
Likewize Corp.
Company typePrivate
Industry
  • Technology
  • Device Protection
  • Telecommunications
  • Retail
  • Financial Services
Founded1997
HeadquartersDallas,Texas, United States
Key people
Rod Millar (CEO)
ServicesDevice Protection, Warranty, Repairs, Trade-ins, Recycling, Premium Tech Support
RevenueUS $1.2 billion (2023)
Owner
Number of employees
2,000
Websitelikewize.com

Likewize (formerlyBrightstar Corp.) is a privately held American corporation founded in 1997 that operates in over 30 countries today. The company offers insurance, warranty, repair, trade-in, recycling, and tech support to telcos, banks, carriers and retailers on smartphones, tablets, laptops and connected devices in the home.

In 2023 Likewize was recognized at the Mobile Industry Awards for the 3rd consecutive year as the best mobile/gadget insurance provider in the industry.

History

[edit]
A Brightstar warehouse in Sweden

Likewize began operations as Brightstar Corp and was founded byMarcelo Claure in 1997.[1]

Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance provider, from Mainsail Partners in April, 2011.[2]

In October 2013, JapaneseSoftBank paid $1.26 billion for a 57% stake in Brightstar.[3]

In February 2014, Brightstar Corp. completed its acquisition of 20:20 Mobile, a European mobile provider.[4]

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.[5]

Previous logo when the entity was known as Brightstar Corp.

In February 2015, Jaymin Patel was appointed CEO of the company, replacing Claure.[6]

In June 2018, Brightstar acquired Next Wireless Group, an online seller of used smartphones.[7] In August 2018, Jaymin Patel resigned as CEO of the company.[6] Reza Taleghani, Brightstar's CFO became interim CEO of the company.[6] As of June 2019, Rod Millar is CEO of the company.[8]

In November 2019, Brightstar acquired Risk Insure which will enable Brightstar "to broaden its portfolio in the wireless industry."[9]

In April 2020, the company acquired WeFix.[10] Then in September of the same year, SoftBank sold the company toBrightstar Capital Partners for an undisclosed amount.[11]

In September 2021, the company announced it was rebranding to reflect a new direction. Under the new name “Likewize,” the company on focused on its Protect, Repair, Upgrade and Support capabilities, showcasing its move to provide a range of tech services, in-store and come-to-you repair, recycling and support.[12]

In November 2022, the company announced thatGenstar Capital would be joining Likewize’s existing private equity investor, Brightstar Capital Partners, in leading the company’s next phase of growth.

The company's headquarters are located inDallas, Texas.[6]

References

[edit]
  1. ^Gale, Kevin (18 October 2013)."How Brightstar CEO Marcelo Claure turned a freebie into a $1.26 billion deal".South Florida Business Journal.
  2. ^Partners, Mainsail (2011-04-05)."Brightstar Corporation Acquires eSecuritel".Mainsail. Retrieved2020-11-20.
  3. ^Carew, Sinead (2013-10-18)."SoftBank to spend $1.26 billion for majority Brightstar stake".Reuters. Retrieved2020-07-31.
  4. ^"BRIGHTSTAR EXPANDS GLOBAL PRESENCE WITH ACQUISITION OF 20:20 MOBILE GROUP IN EUROPE".Yahoo Finance. 5 December 2013. Retrieved2020-07-31.
  5. ^"Brightstar acquires majority stake in Bharti Group's Beetel Teletech".The Economic Times. Retrieved2020-07-31.
  6. ^abcdReiser, Emon (12 July 2018)."Brightstar Corp. CEO to resign".South Florida Business Journal.
  7. ^Reiser, Emon (19 June 2018)."SoftBank Group Corp. subsidiary buys online seller of used smartphones".South Florida Business Journal.
  8. ^Sladky, Lynne (2019-10-25)."SoftBank hopes new WeWork leader will be 'guided missile' to fix it".Los Angeles Times. Retrieved2020-07-31.
  9. ^"BrightStar Corp. Acquires Right Insure".NuWireInvestor. 2019-11-21. Retrieved2020-08-24.
  10. ^McCaskill, Steve (21 April 2020)."Brightstar acquires device repair firm WeFix".TechRadar. Retrieved2020-07-31.
  11. ^Narioka, Kosaku; Dvorak, Phred (2020-09-18)."SoftBank Sells Brightstar, Carrying On Its Divestiture Spree".Wall Street Journal.ISSN 0099-9660. Retrieved2020-10-13.
  12. ^"Brightstar's transformation into Likewize reflects new focus".FierceWireless. 23 August 2021. Retrieved2021-09-01.
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