RealTime IT News

Merisel Grabs Value America

Technology product distributor Merisel Inc. Friday scooped up the remains of Value America Inc., which had filed for Chapter 11 protection in August.

The online retailer, considered onic services business. This business involves the operation of an Internet-based infrastructure system for third-party manufacturers, vendors and distributors to enable online order fulfillment, payment and product delivery.

Though Merisel officials did not return calls made Friday afternoon regarding financial particulars, the firm issued a statement.

"We are very pleased to enter into this agreement," said David G. Sadler, chief executive officer of Merisel. "The potential acquisition of Value America's assets blends well with our future strategies for Merisel."

The transaction is expected to close within 30 days.

Value America becomes the latest firm to be absorbed by larger, more secure firms who can make use of the company's retail assets.