Best Buy is most well known for being a retailer that services the consumer electronics market but with two of its closest competitors, CompUSA and Circuit City, closing down stores, Best Buy is looking to expand into a more profitable sector: Small Business.
If you have not already heard of Best Buy For Business, you soon will as they have just acquired broadband service provider Speakeasy for $97 million. Last year Speakeasy employed 300 people, had over 40,000, and generate revenue of $80 million. It will now become a wholly owned subsidiary of Best Buy.
"Best Buy For Business is all about helping small businesses grow or operate more efficiently through technology. By joining forces with Speakeasy, a company with a true passion for helping entrepreneurs run their businesses, we are making technology more accessible to small businesses by creating a single source for their IT needs," said Darren Jackson, Best Buy executive vice president and CFO, in a statement. "With Speakeasy in our portfolio, we are better equipped to provide our small business customers with one-stop shopping for all of their technology needs."
The point of the acquisition? Position Best Buy as a champion of small business IT and communications solutions, simplify technology for entrepreneurs, make it accessible, and improve business performance.
If you have not already heard of Best Buy For Business, you soon will as they have just acquired broadband service provider Speakeasy for $97 million. Last year Speakeasy employed 300 people, had over 40,000, and generate revenue of $80 million. It will now become a wholly owned subsidiary of Best Buy.
"Best Buy For Business is all about helping small businesses grow or operate more efficiently through technology. By joining forces with Speakeasy, a company with a true passion for helping entrepreneurs run their businesses, we are making technology more accessible to small businesses by creating a single source for their IT needs," said Darren Jackson, Best Buy executive vice president and CFO, in a statement. "With Speakeasy in our portfolio, we are better equipped to provide our small business customers with one-stop shopping for all of their technology needs."
The point of the acquisition? Position Best Buy as a champion of small business IT and communications solutions, simplify technology for entrepreneurs, make it accessible, and improve business performance.
Labels: Best Buy, Best Buy for Business, champion of small business, Circuit City, CompUSA, Darren Jackson, improve business performance, simplify technology, Speakeasy
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