Brightpoint closes huge European purchase

Brightpoint Inc. today completed the purchase the largest wireless phone distributor in Europe for $385 million in stock-a deal that balloons the Plainfield company's annual revenue from $2.5 billion to $4.6 billion.

The deal for privately held Dangaard Telecom of Padbord, Denmark, creates the world's largest distributor and provider of logistics services to the wireless phone industry. The merged company has 3,700 employees and 25,000 customers in 25 countries.

As part of the transaction, which was announced in February, Brightpoint is assuming $350 million in Dangaard debt.