Likewize (formerly Brightstar 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 premium tech support services to telcos, banks, carriers and retailers on smartphones, tablets, laptops and connected devices in the home.
 | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 1997 |
| Headquarters | Dallas, Texas, United States |
Key people | Rod Millar (CEO) |
| Services | Device Protection, Warranty, Repairs, Trade-ins, Recycling, Premium Tech Support |
| Revenue | US $1.2 billion (2023) |
| Owner | |
Number of employees | 2,000 |
| Website | likewize |
In 2023 Likewize was recognized at the Mobile Industry Awards for the 3rd consecutive year as the best mobile/gadget insurance service provider in the industry.
History
edit
Likewize began operations as Brightstar Corp and was founded by Marcelo Claure in 1997.[1]
Brightstar Corp acquired eSecuritel, an Alpharetta, GA based cell phone insurance service provider, from Mainsail Partners in April, 2011.[2]
In October 2013, Japanese SoftBank 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]
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 serves as 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 to Brightstar Capital Partners for an undisclosed amount.[11]
In September 2021, the company announced it was rebranding to reflect a new services 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 that Genstar 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 in Dallas, Texas.[6]
References
edit- ^ 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.
- ^ "Brightstar's transformation into Likewize reflects new focus". FierceWireless. Retrieved 2021-09-01.
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