PORT WASHINGTON, N.Y., May 1, 2014 /PRNewswire/ --Systemax Inc. (NYSE: SYX) today announced it has signed a definitive agreement to acquire SCC Services B.V., a supplier of business-to-business IT products and services with operations in the Netherlands, subject to certain closing conditions, including approval by the Netherlands Authority for Consumers and Markets. Financial terms of the acquisition, which is expected to close later in the second quarter, were not disclosed.
Richard Leeds, Chairman and Chief Executive Officer of Systemax, commented, "The European IT market is a large fragmented marketplace that presents tremendous opportunity for growth. This acquisition will strengthen our existing presence in the Netherlands, where we already have substantial operations, and allow us to offer our existing customers a much more robust service offering, including remote network monitoring, logistics and assembly, maintenance and managed print services."
Systemax's EMEA Technology Products Group is a single source value added reseller of IT hardware, software and solutions to SMB, Enterprise, Public Sector and SOHO customers. Its primary brands, MISCO and Inmac Wstore, utilize a multi-channel selling platform offering thousands of branded IT and related category products from the top manufacturers in the industry, such as personal computers, notebooks, consumer electronics, accessories and supplies.
About Systemax Inc.
Systemax Inc. (www.systemax.com), a Fortune 1000 company, sells industrial and technology products through a system of branded e-Commerce websites, relationship marketers and retail stores in North America and Europe. The primary brands are Global Industrial, MISCO, Inmac Wstore and TigerDirect.
Forward-Looking Statements
This press release contains forward-looking statements about the Company's performance. These statements are based on management's estimates, assumptions and projections and are not guarantees of future performance. The Company assumes no obligation to update these statements. Actual results may differ materially from results expressed or implied in these statements as the result of risks, uncertainties and other factors including, but not limited to: (a) unanticipated variations in sales volume, (b) economic conditions, (c) actions by competitors, including ecommerce retailers, (d) the continuation of key vendor relationships, (e) the ability to maintain satisfactory loan agreements with lenders, (f) risks associated with the delivery of merchandise to customers utilizing common carriers, (g) the operation of the Company's management information systems and other technology platforms supporting sales, procurement and other operations (h) unanticipated legal and administrative proceedings, (i) risks involved with e-commerce, (j) technological change, such as the integration of formerly separate products, (k) changes to sales tax laws or government enforcement priorities, and (l) risks to the Company's substantial international operations, including fluctuations in currency rates, foreign regulatory requirements, political uncertainty and the management of our expanding international operations infrastructure, including the Company's ability to timely and effectively continue to transition certain support operations to its shared services center in Hungary and effectively implement distribution logistics initiatives in Europe. Please refer to "Risk Factors" and the Forward Looking Statements sections contained in the Company's Form 10-K for a more detailed explanation of the inherent limitations in such forward-looking statements.
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SOURCE Systemax Inc.
