Systemax relaunches

Port Washington, N.Y. Online retailer Systemax has completed the acquisition of Circuit City's online business and relaunched

On Tuesday, Systemax closed on its agreement to acquire trademarks, domain names, customer lists and information of the online business out of bankruptcy for $14 million in cash, plus a share of future revenue over 30 months.

A bankruptcy court approved the transaction last week following a public auction.

Circuit City closed its doors in March after failing to successfully emerge as a continuing business from Chapter 11 bankruptcy. It filed for bankruptcy protection in November.

Systemax is the same company that purchased electronics retailer CompUSA's intellectual property when it closed last year. It manufactures and sells consumer electronics online, by direct mail and in retail stores.

Login or Register to post a comment.