It was reported earlier this week that Computer Warehouse had gone into liquidation and that the retail side of the business was acquired by Syco Systems.
This earlier deal has now been “unwound and replaced”, said Square Group, by its decision to acquire Computer Warehouse’s retail assets, which was finalised yesterday.
Talking to CRN, Square Group managing director Darren King described earlier reports on Syco Systems' acquisition of Computer Warehouse as “rather premature".
He added: “Once Square Group entered the fray, it was decided that it [the new deal] would be the best thing to do for the future of the customer base and the original deal unwound.”
Square Group’s acquisition of the firm, added King, will provide the firm with access to Computer Warehouse’s business-to-business (B2B) and business-to-consumer (B2C) customer base.
“The deal has provided us with Computer Warehouse’s online store, use of the firm’s brand name and details of its customer database,” said King. “The priority for us now is to work out how to integrate its branding with Square Group’s.”
In a statement, Jonathan Cole, chairman of Computer Warehouse, said he was “delighted” that Square had decided to add Computer Warehouse to its “growing group of companies”.
He added: “They will be able to deliver the first-class service our customers have come to expect from us over the years and with their retail and business experience will be able to address the needs of the new generation of Apple users."
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