Brightpoint buys 9 percent of rival

November 19, 2007

Brightpoint Inc. said in a new regulatory filing that it invested $7.3 million to acquire a 9.1-percent stake in Maryland-based TESSCO Technologies Inc.

TESSCO competes with Plainfield-based Brightpoint in the wireless-phone logistics business.

In a press release, Brightpoint said it purchased 470,000 shares of TESSCO because "it believes that the shares are currently undervalued in the marketplace and represent an attractive investment opportunity."


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