Markets like Brightpoint’s European acquisition

Shares of the Plainfield cell phone distributor traded at $11.36 late this morning, up $1.08, or 10.5 percent, from last night’s $10.28 close.

Bill Choi, managing director of New York-based investment bank Jefferies & Co., said the deal positions Brightpoint as the clear market leader in cell phone distribution.

“For a number of years, Brightpoint has largely grown through new business in the U.S.,” Choi said. “This has created the global player, the biggest player.

“You’re getting yourself into Europe in a much bigger way, nearly doubling revenue and operating profits,” he added. “I don’t think there’s much overlap in terms of customers or regions. It’s a pretty good fit.”

Brightpoint will need time to digest its latest acquisition, Choi said, especially considering the company also must wrap up the $88 million cash deal it announced Dec. 18 to acquire the U.S. and Latin American business of Coppell, Texas, rival CellStar Corp.

Once the transition is complete, Choi said, he expects Brightpoint to look to strengthen its position in Asia.