Computer mega-center CompUSA has bought all 100 Computer City locations from parent Tandy Corporation in a $275 million deal, the companies announced on Monday. The purchase makes CompUSA the overwhelming leader in computer superstores, and it allows Tandy to unload a money-losing venture.
"We are extremely excited about this acquisition as we believe it will further enhance CompUSA's ability to be a 'total solutions provider' for our retail, corporate, government, education, mail order, technical services, training, and build-to-order customers," said CompUSA CEO Jim Halpin. "We believe this will allow us to provide our customers with additional products, superior service and added convenience."
CompUSA isn't saying yet whether the Computer City locations in the United States will retain their name or revert to CompUSA, although Canadian stores won't suffer a name change.