Systemax Completes Acquisition of European Business IT Supplier
September 18 2009 - 9:35AM
Business Wire
Systemax Inc. (NYSE:SYX) today announced it has completed the
previously-announced acquisition of 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). Financial terms of the acquisition were not
disclosed.
Richard Leeds, Chairman and Chief Executive Officer of Systemax,
commented, "The European IT market is large and fragmented and that
presents tremendous opportunities for growth. This acquisition
strengthens our presence and enables us to leverage our current
infrastructure in both 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.
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