Itochu to Acquire Majority Stake in WeSellCellular
Deal News | Apr 10, 2025 | Aim Group
Itochu Corporation, a prominent Japanese trading company, is set to acquire a 79.5% stake in WeSellCellular, a New-York based company specializing in the wholesale of used smartphones. While the exact financial terms remain undisclosed, estimates suggest the deal is valued at approximately $49 million. This acquisition, conducted via Itochu's American subsidiary, aligns with the company's strategy to bolster its presence in the North American market for secondhand mobile devices, which represents a significant portion of the global market. WeSellCellular, established in 2003, connects global demand and supply chains and partners with major trade-in platforms like USell.com. As part of its future strategy, Itochu aims to integrate its operations with WeSellCellular, leveraging shared expertise to enhance global competitiveness and profitability.
Sectors
- Technology
- Telecommunications
- Trade and Commerce
Geography
- Japan – Itochu Corporation is based in Japan and seeks to expand its business operations globally.
- United States – WeSellCellular, the target company in this acquisition, operates in New York, indicating the geographical interest in the U.S. market.
Industry
- Technology – The article involves companies that buy and sell used mobile phones, situating them in the technology sector.
- Telecommunications – The acquisition focuses on the secondhand smartphone market, a critical component of the telecommunications industry.
- Trade and Commerce – Itochu Corporation is a trading house, engaging heavily in commerce and trade of used electronics on a global scale.
Financials
- $49 million – Estimated financial value of Itochu's acquisition of a majority stake in WeSellCellular.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Itochu Corporation | Acquiring Company | Company | A leading Japanese trading house with diversified business operations globally. |
| WeSellCellular | Target Company | Company | A New York-based wholesale distributor of used smartphones. |
| SecondaryMarket | Source | Company | Provided the estimated deal size of the acquisition. |
| Belong | Business Unit | Company | A business unit of Itochu focusing on the online sales of used smartphones. |
| USell.com | Partner | Company | A leading cell phone trade-in website that partners with WeSellCellular. |