Systemax snaps up Circuit City's brand and domain name
Just like it did in January of last year, Systemax is snapping up leftovers from a now-defunct national consumer electronics retailer. As part of the post-bankruptcy proceedings, Circuit City Stores Incorporated recently closed a deal that'll net it $6.5 million. The price for the coinage? Systemax taking control of its trademarks and internet domain names. Circuit City stated in the filing that the sale of its intellectual property and internet assets would bring "significant recovery for the sellers' estates and creditors," and we're also told that Circuit City would be able to snag an unspecified share of sales from the brand name. Look out, Best Buy -- we hear Systemax has eyes for you, too.
[Thanks, Sid]
