El Segundo, Calif.-based PCM Inc., which sells information technology products and services, acquired a significant number of Systemax businesss-to-business assets, including the local sales office, for an undisclosed sum in a transaction expected to close Dec. 1, according to a news release.
In addition to the sale, Systemax — a Port Washington, New York-based Fortune 1000 company — said it will close its three remaining retail stores and a distribution center and completely exit its remaining North American Technology Group (NATG) operations.
Systemax has been struggling financially and announced a restructuring and general workforce reduction in March.
Systemax built and sold computers out of facility in Fletcher on U.S. 36 in Miami County before it announced in 2012 that it was closing the manufacturing operation.
In the most recent quarter, Systemax reported an 18-percent drop in revenue from $825.4 million in the third quarter of 2014 to $699.3 million in the quarter than ended in September.
“We believe PCM is a natural fit for our B2B employees and their customers,” said Richard Leeds, chairman and CEO of Systemax. “Moving forward, this will allow us to devote all of our time and resources on our other businesses and improving their competitive position to capitalize on their growth opportunities.”
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