Three days after the bankrupt electronics retailer’s domain name was sold, CircuitCity.com was back in business today. New owner Systemax Inc. also bought customer lists from Circuit City and is using the web site to encourage customers to remain on those lists.
Hyperlinked text at the top of the CircuitCity.com home page says “CircuitCity.com is under new ownership-learn more.” Clicking on that link takes visitors to a page providing information about the sale of the Circuit City brand and web site to Systemax.
The page contained a letter from Systemax executive Gilbert Fiorentino explaining that former Circuit City customers can prevent their personal information from being transferred to the new owners by opting out no later than June 9, and provides a link for those who wish to do so. It also provides a link to the Systemax privacy policy, and concludes, “We encourage you to try out the new CircuitCity.com and know that we will always respect your privacy and honor your requests.” Fiorentino is CEO of the Systemax Technology Group.
Systemax, owner of consumer electronics retail brands TigerDirect and CompUSA, is No. 21 in the Internet Retailer Top 500 Guide.
“This acquisition and quick launch of the all-new CircuitCity.com further solidifies Systemax`s position as a leader in online retailing of value-priced, branded computers and consumer electronics,” says Systemax CEO Richard Leeds. “Circuit City is one of the iconic brands in U.S. electronics retailing with a 60-year legacy. With the longstanding leadership of our TigerDirect.com business and the growing contribution of our CompUSA business acquired last year, we think Systemax is uniquely positioned to best carry forward the great Circuit City brand in the online space.”
Systemax purchased the Circuit City brand, domain name, customer lists and other intangible assets for $14 million plus a share of revenue generated from those assets over a 30-month period. Systemax guaranteed Circuit City a minimum of $3 million from that revenue share.
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