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January 7, 2008

TigerDirect Purchases CompUSA

Official announcement that Systemax (TigerDirect) has purchased CompUSA

We believe the value of the CompUSA brand remains very high. The company has a long legacy of value pricing, service and customer loyalty among consumers nationwide, said Richard Leeds, Chief Executive Officer of Systemax. We view this acquisition as a strong complementary business to our TigerDirect operation.


So far it has been announced that the stores in Florida, Texas, and Puerto Rico are for sure, lets see if Honolulu is next.


Yahoo! Finance
Business Week
Reuters


UPDATE 01/07/08 4:oo pm:
Sources have stated that Circuit City should be making an announcement in the next few days about an acquisition of the Honolulu CompUSA location (basically opening a new circuit city in Honolulu) With recent announcements of their stock prices plummeting, this comes as a surprise to me, but it would make sense for Circuit City to create a larger presence in Honolulu. Look for that announcement soon.

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