Mail order reseller PC Connection, Inc. and online catalog store
Cyberian Outpost, Inc.
announced several months ago plans to merge. PC Connection offered to acquire ailing Cyberion Outpost outright, if the terms were right. With a soft economy continuing to negatively impact high-tech retailers, Cyberian Outpost hasn’t seen the revenue it had hoped for, and at this point, it looks like its merger plans may be in jeopardy.
The merger agreement established by PC Connection and Cyberian Outpost dictated that Cyberian Outpost needed to fulfill a net worth condition, and the parties said yesterday that if Cyberian Outpost can’t fulfill it, the merger will be cancelled.
“In light of these developments, Cyberian Outpost has initiated conversations with other interested parties with respect to a possible acquisition,” said the companies in a recent statement.
Cyberian Outpost president and CEO Darryl Peck noted that his company took in over 13,000 orders last week alone, which represented US$4.1 million in revenues.