Egghead finalizes sale of CGE division.SPOKANE, Wash.--(BUSINESS WIRE)--May 13, 1996--Egghead Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EGGS) today closed the sale of its Corporate, Government and Educational (CGE CGE Computable General Equilibrium CGE Conference des Grandes Ecoles (French) CGE Carrier Grade Edition (COTS Linux platform) CGE Classic Gaming Expo (game) ) division to Software Spectrum Inc. of Garland, Texas Garland is a city in Dallas County, Texas, (USA). It is a northeastern suburb of Dallas and is a major part of the Dallas-Fort Worth Metroplex. As of the 2000 census, the city had a population of 215,768, making it the tenth-most populous city in Texas and the eighty-sixth most . The acquisition of CGE by Software Spectrum was first announced on March 25, 1996. Egghead will now focus on its core retail business. The sale of the CGE division involved 350 employees comprised of field sales personnel stationed throughout 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. and Canada, as well as in call center operations, licensing, credit and administrative offices located in Spokane. Over the past few weeks, Software Spectrum interviewed the CGE staff and is in the process of making employment offers to many of these people. For fiscal year 1995, the CGE division generated revenue of $429 million, or 50 percent of Egghead's total revenue of $863 million. For the first nine months of fiscal 1996, CGE had revenue of $275 million, or 47 percent of the company's total revenue of $582 million. Egghead Inc. is a national retailer of software, computers and related equipment through its 164 stores and 1-800-Egghead consumer sales division. The company's corporate headquarters are located in Spokane. CONTACT: Egghead Inc. Brian Bender Sir Brian Geoffrey Bender is the Permanent Secretary, of the Department for Business, Enterprise and Regulatory Reform of the United Kingdom Government. He was previously the Permanent Sectretary of the now defunct Department of Trade and Industry. , 509/891-4851 or Fi.Comm Ltd. Michael Newman, 800/790-0569 |
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