Systemax to acquire select CompUSA assets

PORT WASHINGTON, N.Y. Systemax, a consumer electronics retailer that sells products through a system of branded e-commerce Web sites, direct mail catalogs, relationship marketers and retail stores in North America and Europe, announced today that it has agreed to buy selected assets and retail stores of CompUSA.

Systemax said it has agreed to purchase the CompUSA brand, trademarks and e-commerce business, and as many as 16 CompUSA retail outlets. Completion of the transaction is subject to customary closing conditions and is expected to close at several dates throughout the first quarter of 2008.

“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, ceo of Systemax.

Until the agreement is closed, CompUSA’s Web site (www.compusa.com) and retail operations will continue to operate under CompUSA’s existing leadership, Systemax reported. Once the acquisition is completed, the new, improved CompUSA.com Web site will operate within Systemax’s family of e-commerce Web sites.