Systemax Buys, Relaunches CircuitCity.com Website

Authored by Mark Hefflinger on May 26, 2009 - 10:07am.

Richmond, Va. - Months after closing all of its 567 U.S. stores in the face of bankruptcy, Circuit City will live on -- at least in name.

Systemax, a New York-based online retailer of computers and consumer electronics, has paid $14 million to acquire the former chain's e-commerce business through a public action, and already has relaunched the CircuitCity.com website.

Calling Circuit City "one of the iconic brands in U.S. electronics retailing," Systemax CEO Richard Leeds said that the deal bolsters his company's position in the online retailing space.

Systemax, which sells consumer electronics under the TigerDirect and CompUSA brands, also has acquired CircuitCity.com's customer lists and other assets.

In addition to the purchase price, Circuit City is guaranteed a minimum of $3 million in future revenue.

Related Links:
http://snipurl.com/itnla

http://www.systemax.com

http://www.circuitcity.com