updated 04:50 pm EDT, Fri May 22, 2009
Systemax Circuit City site
Systemax on Friday announced it has finished its acquisition of online electronics retailer Circuit City following its bankruptcy and launched a revised Circuit City website. Systemax has also aquired CompUSA last year and oversees online retailer TigerDirect. The new Circuit City site has 24/7 customer service, advanced search functions and photo and video galleries of the products it carries.
Systemax purchased the CircuitCity.com domain, associated trademarks and trade names, as well as customer lists and information in addition to other assets for $14 million and a share of revenue generated over the next 30 months. A minimum of $3 million is guaranteed to Circuit City. The Bankruptcy Court approved the transaction on May 15th.