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.”
Please enable JavaScript to view this content.