Systemax Signs Definitive Agreement to Acquire European Business IT Supplier
August 03 2009 - 1:03PM
Business Wire
Systemax Inc. (NYSE:SYX) today announced it has signed a
definitive agreement to acquire WStore Europe, SA, a European
supplier of business IT products with operations in France (Inmac
WStore SAS and I-Com Software) and in the United Kingdom (WStore UK
Limited), subject to certain closing conditions, including approval
by the Competition Authority in France. Financial terms of the
acquisition, which is expected to close in the third quarter, were
not disclosed.
Richard Leeds, Chairman and Chief Executive Officer of Systemax,
commented, “The European IT market is a large fragmented
marketplace that presents tremendous opportunity for growth. This
acquisition will strengthen our presence and enable us to leverage
our current infrastructure in France and the UK where we already
have substantial operations.”
About Systemax Inc.
Systemax Inc. (http://www.systemax.com), a Fortune 1000 company,
sells personal computers, computer supplies, consumer electronics
and industrial products through a system of branded e-commerce web
sites, retail stores, relationship marketers and direct mail
catalogs in North America and Europe. The primary brands are
TigerDirect, CompUSA, Circuit City, Misco and Global Industrial. It
also manufactures and sells computers and accessories under the
Systemax and Ultra brands.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company’s performance. These statements are based on management’s
estimates, assumptions and projections and are not guarantees of
future performance. The Company assumes no obligation to update
these statements. Actual results may differ materially from results
expressed or implied in these statements as the result of risks,
uncertainties and other factors including, but not limited to: (a)
unanticipated variations in sales volume, (b) economic conditions
and exchange rates, (c) actions by competitors, (d) the
continuation of key vendor relationships, (e) the ability to
maintain satisfactory loan agreements with lenders, (f) risks
associated with the delivery of merchandise to customers utilizing
common carriers, (g) the operation of the Company’s management
information systems, and (h) unanticipated legal and administrative
proceedings. Please refer to “Risk Factors” and the Forward Looking
Statements sections contained in the Company’s Form 10-K for a more
detailed explanation of the inherent limitations in such
forward-looking statements.
Systemax (NYSE:SYX)
Historical Stock Chart
From Apr 2024 to May 2024
Systemax (NYSE:SYX)
Historical Stock Chart
From May 2023 to May 2024