Systemax to buy parts of CompUSA

SYSTEMAX, a Fortune 1000 seller of computer and electronics goods in North America and Europe, announced Sunday that it will buy the CompUSA brand and trademarks, e-commerce business and up to 16 retail stores in Florida, Texas and Puerto Rico for about $30 million plus indirect costs.

Roughly, that works out to about 15 per cent of CompUSA's 103-store chain, on which Mexican billionaire Carlos Slim Heru's Grupo Carso SA spent somewhere in the neighborhood of $1.5 billion since 1999.

Talk about pennies-on-the-dollar. Sheesh!

More details here. µ

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CompUSA will go out of business