After Circuit City went belly up in the States, up here in Canada, InterTAN Canada operated 765 “The Source by Circuit City” stores. Back in January they said they have received “a number of formal proposals” to purchase them… and today Bell has announced they have agreed to purchase the retailer.
According to George Cope, President and CEO of Bell and BCE he said the main reason for the acquisition is because it “supports Bell’s strategic imperatives to accelerate wireless and leverage momentum in wireline services like Bell TV, Bell Internet and Bell Home Phone”.
Once the acquisition is completed (targeting Q3 2009), The Source will operate independently from Bell, but carry all of Bell’s consumer services including Bell Mobility, Solo Mobile and maybe Virgin Mobile, Bell TV, Internet, and Home Phone products. Mr. Cope said “With its strong national presence, brand, and management team, acquiring The Source represents a competitive and cost-effective approach to ensuring Bell’s leadership in delivering the best communications products to Canadians. Expanding the number of places people can buy Bell products is a core element in the execution of Bell’s strategy to achieve our goal: To be recognized by customers as Canada’s leading communications company.”
Congrats Bell!
(Let’s hope you got a good deal like Rogers did with the Skydome purchase)
More here at Bell
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