Mobile distribution and services company Brightstar, part of Japan’s Softbank Group, has acquired Adelaide-based Risk Insure as part of a strategy to boost its device protection business in Australia and New Zealand.

Brightstar works with carriers, retailers and corporates on the management of mobile technology, including support, protection, warranties, finance and trade-ins.

With smartphone prices rising, the company sees an opportunity to tap into rising insurance demand for the devices.

“Risk Insure will help us provide a holistic service for retailers and operators, offering tailored insurance solutions that provide peace of mind to consumers across Australia and New Zealand,” Regional Managing Director for Oceania Tyler McGee said.

Risk Insure was established in 2000 by Grant Goldner and Graham Gulliford and employs more than 50 staff who specialise in insurance for the phone communications industry. The firm is part of the Steadfast network.

“By combining our success with Brightstar’s global reach and scale, we’ll be able to take our device protection capabilities to the next level,” Mr Goldner said.

Brightstar, headquartered in Miami, has a presence in 38 countries and processes more than 80 million devices a year, according to its website.

Communications and investment firm SoftBank completed the acquisition of a controlling interest in Brightstar in January 2014 and later moved to full ownership.