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May 25, 2009, 2:46 a.m. EDT

Systemax relaunches electronics site CircuitCity.com

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By MarketWatch

TEL AVIV (MarketWatch) -- Systemax Inc., the online retailer of computers and electronics, said it relaunched CircuitCity.com after it acquired trademarks, trade names, domain names, customer lists and other assets.

SYX

The Port Washington, N.Y., company paid $14 million plus a portion of revenue -- a minimum of $3 million -- over 30 months.

Systemax, which already sells online under the names TigerDirect, CompUSA and others, closed on the CircuitCity assets last Tuesday after a bankruptcy-court auction.

Circuit City filed to reorganize under Chapter 11 of federal bankruptcy law last November and closed its doors under the pressure of enormous competition in consumer electronics plus tighter consumer spending in a weak economy.

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