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Brightpoint making $80M acquisition

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Indianapolis-based Brightpoint Inc. said Monday it has agreed to acquire Touchstone Wireless Repair and Logistics LP in an $80 million deal expected to close by the end of the year.

In a news release, Brightpoint said the Pennsylvania-based company will help expand the services it offers the wireless industry. Brightpoint distributes wireless devices, handling 24.9 million units in the third quarter alone. Touchstone repairs and remanufactures wireless devices, handling the so-called “reverse logistics” that occur after a sale.

"The combination of our companies creates the wireless industry's most compelling forward and reverse logistics service provider,” Brightpoint Chairman and CEO Robert J. Laikin said in a prepared statement.

The transaction is expected to improve Brightpoint’s 2011 profits, Laikin said.

Last month, Brightpoint reported third-quarter revenue of $889 million, up 3 percent from the same period last year. Profit declined 12 percent, to $9.8 million, due in part to one-time tax benefits recorded in the prior-year period.

A Brightpoint subsidiary struck the deal with Touchstone on Dec. 10, according to a filing with the Securities and Exchange Commission. If the transaction does not close by the end of the year, either party could call off the deal under certain circumstances.

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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

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  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

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