NEW YORK Jan 6 Systemax Inc (SYX.N) on Sunday
said it reached an agreement with CompUSA Inc to buy its brand,
trademarks, e-commerce business and as many as 16 retail stores
from the gadgets and electronics retailer.
Systemax said the deal's total cost -- which it expects to
be about $30 million -- depend on which retail locations it
"We believe the value of the CompUSA brand remains very
high," Systemax Chief Executive Richard Leeds said in a
statement. "We view this acquisition as a strong complementary
business to our TigerDirect operation."
Sources told Reuters last month that CompUSA's stores would
either be closed or sold off following the holiday shopping
The retailer -- once controlled by Mexican billionare
Carlos Slim -- was sold last month to Gordon Brothers Group, a
restructuring and investment firm.
Consolidation in the electronic retailing sector has
resulted in intense competition as large companies like Best
Buy Co Inc (BBY.N) and Wal-Mart Stores Inc (WMT.N) undercut
smaller rivals such as CompUSA and Circuit City Stores Inc
(Reporting by Justin Grant, editing by Martin Golan)