Printer Friendly
The Free Library
19,573,962 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

CompUSA Announces Good Guys Acquisition.


Business Editors/High-Tech Writers

DALLAS--(BUSINESS WIRE)--Sept. 29, 2003

CompUSA today reached an agreement to acquire California-based consumer electronics chain, Good Guys Inc., (Nasdaq:GGUY). Good Guys currently operates 71 stores throughout California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Nevada, Oregon and Washington. CompUSA will purchase all outstanding Good Guys stock for $2.05 per share in cash.

"This deal dovetails perfectly with our long-term technology convergence strategy," commented CompUSA CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Hal Compton. "At CompUSA, we're currently expanding our merchandise mix to include the latest entertainment technology. The acquisition of Good Guys is an exciting piece to our long-term growth game plan. We want to offer the seamless technology solutions our customers' lifestyles demand and, with Good Guys' solid reputation in delivering high-end entertainment technology, our offering just becomes that much stronger. Good Guys owns a niche that's highly complementary with our own."

If approved by Good Guys' shareholders and regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest
regulatory agency

administrative body, administrative unit - a unit with administrative responsibilities
, the transaction will be funded by cash available at U.S. Commercial (USCOMB1.MX), CompUSA's parent company. The resources needed for the acquisition, along with additional capital, will be infused into CompUSA by U.S. Commercial.

CompUSA Inc. is one of the nation's leading retailers and resellers of technology products and services. CompUSA currently operates 226 CompUSA Superstores This is a list of superstores by country. Multi-national
  • Auchan
  • Barnes & Noble (Books, Music, Videos, Magazines)
  • Best Buy (Music, Videos, Electronics, Computer Software, Appliances)
  • Borders (Books, Music, Videos)
  • Carrefour
  • Cora
 in 90 major metropolitan markets across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  that serve retail, small-to-medium businesses, corporate, government and education customers and includes technical service departments. Many of the stores include classroom-training facilities. CompUSA also operates a web site that offers an assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division.

as·sort·ment
n.
 of over 80,000 items at www.compusa.com.
COPYRIGHT 2003 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Sep 29, 2003
Words:255
Previous Article:Fidelity Investments Cuts Equity and Option Commissions to $8 Per Trade, Introduces Other New Services for Active Traders.
Next Article:Time Warner Cable, Cox Communications and Cablevision to Carry NBA TV; Leading Cable TV Providers Team with NBA's 24-Hour Television Network in Major...
Topics:



Related Articles
STORES CLUSTER, BELIEVING COMPETITION BREEDS SUCCESS.
COMPUSA TO BUY MAIL ORDER FIRM.
Good Guys and CompUSA Announce Close of Merger Transaction.
CompUSA Announces Next Steps in Good Guys Retail Strategy.
Good Guys electronics store closes in Eugene.
CompUSA Expands Home Entertainment Selection; California Businesses and Consumers Respond Positively to the Latest Technology and HE Selection Under...
BRIEFCASE.
COMPUSA CUTS ITS L.A. STORES SPECIALIZED RETAIL A TOUGH FIELD NOW.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles