[Infowarrior] - Best Buy Acquires Speakeasy

[Richard Forno]

Best Buy Acquires Speakeasy

http://www.neowin.net/index.php?act=view&id=39053

Speakeasy, one of the largest DSL providers in the United States, has been
acquired by Best Buy for $97 million, which the companies put at 20% greater
than Speakeasy's 2006 revenues. Best Buy¹s plan is to promote Speakeasy
Small Business DSL through the company¹s lesser-known Best Buy for Business
program. Current Speakeasy customers are unlikely to be affected, at least
in the short term. The deal won't even go down until the first quarter of
2008, and even then the plan is to run Speakeasy as an independent
subsidiary of Best Buy. "We have a high regard for Speakeasy's employees,
their culture, and their valued relationships with customers and
vendors.They have a strong customer service-oriented approach, which is an
excellent fit with Best Buy's culture and direction,² said Darren Jackson,
Best Buy executive vice president and CFO.

Bruce Chatterley, President and CEO wrote the following in an email sent to
the service's customers: "It is important to note that though Speakeasy will
now be a wholly owned subsidiary of Best Buy, we will continue to operate as
a standalone, independent operating division with headquarters in Seattle.
Speakeasy will be an important part of the Best Buy For Business service
that delivers simple, reliable, and affordable technology solutions to small
businesses. Speakeasy's array of broadband voice, data and managed services
offerings will be the focal point of the Best Buy For Business
communications solutions.²