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Articles about Systemax

Systemax goes Dutch, devours SCC Netherlands

Shape-shifting box shuffler Systemax has swallowed SCC's "sub-scale" Dutch division for an undisclosed sum. New York-listed Systemax last night confirmed the bid to the stock exchange, the most significant buy it has made in Europe - where it trades as Misco - since the acquisition of WStore some years back. "The European IT …
Paul Kunert, 02 May 2014

Systemax CEO: Can't get consumer biz out of the crapper

It is a new calendar and financial year for shape-shifting box-shuffler Systemax but the same problem remains: it is hamstrung by a "weak" consumer division that is a burden on the relatively fit B2B operation. The New York-listed reseller last night reported Q1 results ended March with sales declining one per cent to $873.4m, …
Paul Kunert, 30 Apr 2014
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Systemax director Carl Fiorentino bribery trial moves to Florida

The trial of former Systemax director Carl Fiorentino has been moved from New York to Florida, where he was based when the alleged bribery offences are claimed to have occurred. Fiorentino, a one-time president of subsidiary Tiger Direct, stands accused of pocketing more than $7m in kickbacks from component suppliers in Taiwan …
Paul Kunert, 14 Jan 2014

Sing it, Systemax: 10 straight quarters plunging in a row, 10 straight quar....

Shape-shifting mega reseller Systemax has finally broken its run of top line wobbles after 10 consecutive quarters but the US titan still couldn't turn a churn out a profit in its calendar Q2. The New York Stock Exchange-listed dealer last night reported low single-digit sales growth of $831.1m, representing a rise of 1.4 per …
Paul Kunert, 30 Jul 2014
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Former Systemax exec faces second probe by Feds

Former Systemax exec Carl Fiorentino, the man currently contesting charges of fraud related to his work at his former company, is the subject of a second federal probe, according to a recent US court filing. This second probe was mentioned by his legal team at Pinera-Vazquez Law Firm in its petition to move the venue of the …
Paul Kunert, 31 Oct 2013
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Shape-shifting box shifter Systemax made cash... from non-IT kit

A write-off of deferred tax assets helped to widen losses at ailing Systemax during Q4 as the tanking consumer biz in North America more than offset sales growth in the Industrial Products division. It was an eventful end to another eventful year for the shrinking reseller, with turnover in the final three months of 2013 down 7. …
Paul Kunert, 05 Mar 2014

Systemax's Euro tentacle set to buy ailing schools supplier RM

The word sweeping through the technology channel is that big changes are afoot at education supplier RM with the parent of reseller Misco understood to be acquiring the software and services business. Sources claimed that talks between the LSE-listed RM and NYSE-listed firm Systemax, which trades in Europe as Misco and Inmac …
Paul Kunert, 29 Nov 2013
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Former Systemax bigwig Carl Fiorentino to fight bribery allegations

Former Systemax director Carl Fiorentino has pleaded not guilty to federal charges that he pocketed millions of dollars in backhanders in return for directing trade towards specific PC component makers. Fiorentino appeared in the Eastern District Court of New York on Monday to face allegations made last month that he made more …
Paul Kunert, 10 Jul 2013

Bloated tech reseller Systemax may be turning around, but it's still going the wrong way

Things were supposed to be on the up for the Leeds brothers in charge of troubled reseller Systemax: by this point in calendar '13 profits should have returned as the restructuring plan takes hold ahead of the glide into Christmas. But that is happening elsewhere in an alternative reality - in this time dimension Systemax …
Paul Kunert, 30 Oct 2013

Systemax turnaround plan off the rails as losses widen

It could be a case of returning to the drawing board for the Systemax execs who drafted the 2013 turnaround blueprint: the company's Q2 financial results are steeped in red ink amid sliding sales. The misfiring dealer drew up an operational review last year that it put in place during the autumn. Yet the benefits didn't show up …
Paul Kunert, 07 Aug 2013
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Sprosty leaps from Systemax TPG hot seat after 18 months

Systemax has confirmed that David Sprosty, CEO of its Technology Products Group, has left after less than 18 months in the hot seat. Sprosty was made CEO at the unit in October 2011 replacing disgraced former exec Gilbert Fiorentino, who the SEC latterly barred from ever serving again as a corporate officer or director in a …
Paul Kunert, 15 Feb 2013

Ex-Systemax veep cuffed, charged with $230m fraud

Carl Fiorentino, a former president at reseller Systemax, has been charged with accepting bribes worth millions of dollars in return for directing $230m worth of business to certain components suppliers. He was arrested yesterday and released on a $1m personal surety bond. If the name sounds familiar, that's because it is: his …
Paul Kunert, 19 Jun 2013

Reseller giant Systemax bleeds red ink in Q1 of 'turnaround year'

Misfiring reseller big gun Systemax has seen poor results in the first quarter of calendar 2013 - which is supposed to be its turnaround year. In its efforts to recover, the business has slashed European jobs, shuttered US PC factories and axed retail brands. The ailing firm, branded as Misco in Europe, saw sales decline 3.6 per …
Paul Kunert, 01 May 2013
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Euro jobs cut threat hit us like a train, say Systemax workers

Systemax staff are shellshocked in the wake of the revelation that jobs in Europe - the region leading growth across the company - are to be cut. The reseller is consolidating back-office functions into a shared services centre in Eastern Europe as well as shuttering two retail brands and closing down PC production lines …
Paul Kunert, 05 Nov 2012
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SEC bars ex-Systemax veep from director role in fraud deal

The SEC has barred former Systemax veep Gilbert Fiorentino from being a director of a PLC again after finding he "fraudulently" pocketed hundreds of thousands of dollars in compensation over five years. The disgraced exec, who had been CEO of the reseller's Technology Products Group, was put on administrative leave in April 2011 …
Paul Kunert, 18 Sep 2012

Red-soaked Systemax kills Euro jobs and US PC factory

US giant Systemax is shuttering its PC factory and axing the CompUSA and Circuit City brands. The reseller, which also runs Misco.co.uk, signalled it will cut its workforce in Europe after ploughing into the red in Q3 2012. The New York-listed biz delayed reporting its latest financial results on Monday as Hurricane Sandy …
Paul Kunert, 02 Nov 2012

Systemax files $2.2m losses as US shoppers stay home

Systemax was hit by Q2 losses as continued strong trading in its business-to-business operation in Europe was more than offset by US shoppers' reluctance to part with cash, the reseller giant confirmed late last night. Operating losses for the period ended 30 June were $2.2m compared to a profit of $15.6m a year earlier, " …
Paul Kunert, 01 Aug 2012
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Systemax suffers sales shrinkage in Q4

Systemax's sales growth engine ran out of steam in calendar Q4 with a resurgent B2B division unable to offset double digit declines in consumer operations. The US parent of the WStore and Misco reseller brands filed numbers late last night with revenues dipping 3 per cent to $978m (£613.6m), but operating profit edged up 3.7 per …
Paul Kunert, 29 Feb 2012
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Systemax fills hole left by shamed US boss

Systemax has hired former Best Buy exec David Sprosty as the CEO of its Technology Products division in North America, finally filling the role that was vacated by shamed exec Gilbert Fiorentino earlier in the year. The responsibilities were assumed on a short-term basis by Systemax vice-chairman Robert Leeds after long-serving …
Paul Kunert, 04 Oct 2011
Pim Dale, Systemax EMEA CEO

Systemax CEO: We want to be Number One in five years

Systemax EMEA CEO Pim Dale is plotting an expansion strategy to become the largest reseller in the region within five years. Industry vet Dale, former EMEA veep and GM at one-time direct selling purist Dell crossed into the channel for the first time in January when he pitched up at Systemax. He reckons its the "age of the …
Paul Kunert, 03 Jul 2012
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Systemax profits tumble as US punters keep wallets closed

Systemax CEO Richard Leeds said he's disappointed by calendar Q1 numbers as profits fell by almost 50 per cent due to flagging US consumer electronics sales. The group - which operates the Misco and WStore brands in Europe, and Tiger Direct, Circuit City and CompUSA stateside - saw turnover slide one per cent year-on-year to $ …
Paul Kunert, 02 May 2012
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SEC investigates disgraced Systemax exec

The SEC has launched an investigation into the reasons behind the departure of shamed Systemax exec Gilbert Fiorentino, the company has confirmed. CEO of the technology product group, Fiorentino was suspended from the US reseller - parent of Misco and WStore - in April after an independent probe into whistleblower allegations …
Paul Kunert, 28 Jun 2011
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Systemax sales grow and profits too

Systemax's investigation into whistleblower allegations against former exec Gilbert Fiorentino added $7m to its Q2 pre-tax profits but the consumer slowdown dented sales growth. The parent of US retailers Tiger Direct and CompUSA and reselllers Misco and WStore in Europe, has reported profits of $15.5m, up 64 per cent on the …
Paul Kunert, 04 Aug 2011
hands waving dollar bills in the air

Systemax blows £250k on ex-CEO legal probe bills

Rising biz sales fuelled Systemax's third quarter even though the consumer spending freeze showed no signs of thawing. The parent of the Tiger Direct, CompUSA, Misco and WStore recorded a 4 per cent rise in turnover for the period ended 30 September, raking in $901m (£562.5m). The firm's operating income climbed 58 per cent to $ …
Paul Kunert, 02 Nov 2011
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Small biz reseller swallowed by Systemax

Systemax - the company behind CompUSA and the owner of Circuit City's ecommerce business - is buying WStore Europe. WStore specialises in supplying small and medium businesses and the public sector, and operates in France as Inmac, WStore SAS and I-Com Software. Systemax trades using the Misco brand in Europe. Richard Leeds, …
John Oates, 04 Aug 2009

Reseller giant Misco puts UK workers at risk of redundancy – sources

Reselling monster Misco has put staff working in its customer services, accounts and buyers departments at risk of redundancy, according to sources close to the company. The European business, owned by NYSE-listed Systemax. is plotting to become the largest services-based reseller in the region inside four years by targeting …
Paul Kunert, 08 Oct 2013
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Systemax Q2 revs jump 17%

Systemax shrugged off the credit crunch in Q2, with sales jumping 17 per cent to $758m for the three months ended June 30. The direct marketing IT reseller and PC builder, noted stronger demand in North America and Europe in the quarter and it held gross margins steady at 15.3 per cent. However, net income fell 1.6 per cent year …
Team Register, 08 Aug 2008
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Logicalis grabs former Insight EMEA sales chief Brooker

International managed services bigwig Logicalis has hired former Insight exec Tony Brooker to run its sales and marketing teams in the UK and Ireland, El Chan can reveal. The industry vet starts early next month (4 August) and will manage a team of 120 staff, the majority of whom are in field sales, but he will be expected to …
Paul Kunert, 07 Jul 2014

Channel's großen Käse roll eyes at vendors' performance under the spread sheets

Bulky channel outfits in EMEA are bringing home the bacon, according to peeps at Canalys. Aggregated figures from eight publicly quoted suppliers in the region revealed an average year-on-year sales growth of eleven per cent in the first quarter of 2014 – more than double that of tech titans collective including HP and Apple. …
Paul Kunert, 03 Jun 2014
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Systemax saves CompUSA from knacker's yard

Systemax is buying the CompUSA brand name, its ecommerce operations and up to 16 stores in the great CompUSA close-out sale. The big US computer reseller hails CompUSA as a "strong complementary" business to its own retail TigerDirect brand and is paying up to $30m for its new baby, depending on how many stores it actually buys …
Drew Cullen, 06 Jan 2008
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Europe helps boost Systemax Q3

Systemax said strong growth in both Europe and North America helped lift sales in its third quarter. The PC and components vendor said sales climbed 20 per cent on the year to $687.3m in the quarter ending 30 September, while net profits jumped 41 per cent to $17.6m. The company said North America technology group sales grew 20 …
Joe Fay, 08 Nov 2007

Samsung snaps up Cisco enterprise director for B2B push

Samsung has rustled Cisco's herd and made off with veteran UK enterprise sales director Tim Skinner, who will head up its continued push into commercial sectors. Skinner spent 14 years in the sales engine room at Cisco but this week started at Samsung as director of its B2B operation, reporting directly to Graham Long. Long, …
Paul Kunert, 01 Aug 2013

SCC: Blighty biz cracked open wallets in 2014, and not JUST for Windows XPocalypse

Customers fleeing end-of-support Windows XP doom coupled with boosts in data centre hosting and managed services wins fuelled top and bottom line goodness at reseller titan SCC in the recently closed fiscal '14. The Birmingham-HQ'd channel giant pushed up turnover for the year ended 31 March by 9.5 per cent to £1.74bn as …
Paul Kunert, 12 May 2014

Misco does well but parent globocorp suffers full year losses

Giant reseller Systemax, better known in the UK as the parent of Misco, continues to review the operations after swinging to losses caused by the collapsing US consumer market and charges incurred by major restructuring on both sides of the pond. It was a particularly nasty outing for the mighty firm in calendar Q4 - group sales …
Paul Kunert, 06 Mar 2013
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Former HP direct sales bloke Logan jumps ship to Misco

Headhunters are out in the channel recruiting bods into Misco's fledgling enterprise team - and ex-HP bigwig Richard Logan is the first to join. The Systemax-owned reseller has grand plans to knock its largest EMEA rivals off their perch within five years, and is restructuring to achieve this. Logan, previously sales director …
Paul Kunert, 29 Nov 2012
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Systemax readies books

Systemax, Simply Computer's saviour, will have restated accounts ready by the end of the month after problems at its UK arm forced it to review seven quarters worth of results. Steven Goldschein, chief finance officer at New York-based Systemax, told El Reg: "We are on track to have figures ready by March 30, we're making good …
John Oates, 16 Mar 2005
The Register breaking news

Systemax UK reins in Misco ops

Systemax UK is closing the Wellingborough, Northants warehouse of its Misco reseller sub, transferring all logistics, except for Systemax-branded PCs, to its main warehouse Globaldirect Greenock, Scotland. Too small for its needs, it says. At the same time, the company is transferring the Uxbridge sales operations of …
Drew Cullen, 21 May 2002
Computer 2000

Computer 2000 hands Hayward keys to marketing kingdom

Computer 2000 has lured Stewart Hayward, former head of UK marketing at rival Ingram Micro's as GM for its marketing function. Hayward left Ingram late last month after nearly two years at Milton Keynes-based Ingram but picks up the reins today at Basingstoke-based C2000, the UK arm of Tech Data. Andy Dow, who remains as …
Paul Kunert, 03 Sep 2012
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Feds investigate $17m of missing kit at CompUSA

The FBI have taken charge of investigations into the reported theft of $17m (£10.4m) worth of electronics allegedly stolen from Systemax-owned CompUSA by two brothers of fired exec Gilbert Fiorentino and other former employees. Only last month, the SEC confirmed it was looking into matters surrounding the departure of Fiorentino …
Paul Kunert, 22 Jul 2011
The Register breaking news

Systemax completes UK restructuring…

Systemax, the IT mail-order reseller formerly known as Globaldirect, has completed the announcements for its UK consolidation, Les Biggs VP of Europe told us. The changes which should be completed in September will see Systemax's seven UK sites cut to three: Wellingborough, Greenock and Walthamstow. Forty stores staff are …
Drew Cullen, 24 May 2002
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Simply Computers changes name

Simply Computers, hit by huge redundancies last week, is rebranding as "Misco Consumer". Simply customers are unaffected by the name change. with warranties honoured, as before. A spokeswoman for Misco told El Reg: "Misco is well known in the business market and the Simply name will be gradually phased out over the next few …
John Oates, 02 Feb 2005
The Register breaking news

Simply Computers suffers big redundancies

Up to 105 workers at Simply Computers are losing their jobs thanks to reorganisation by parent company Systemax. The company is closing down its manufacturing plant in Greenock and will in future get machines from its parent company, Systemax in the US. From the end of this month Simply Computers sales, marketing, customer …
John Oates, 24 Jan 2005
The Register breaking news

Job losses at Simply Computers

Systemax is restructuring its Simply Computers division, shutting down its warehouse ops in Walthamstow and focusing all logistics at Greenock. There's around 40 job losses. Last month, the company outsourced Simply's PC building business to UK Configuration Centre (UKCC)of Bishops Stortford. Both moves follow a strategic …
Drew Cullen, 14 May 2002
The Register breaking news

Misco pulls plug on Scotland

Fifty jobs have been lost in Greenock following the closure of the Scottish sales office of Misco. Staff at the reseller were told late Wednesday afternoon of the closure. Misco, which is part of Systemax Europe Ltd, will instead consolidate its sales operation in two locations in Northampton and London. A 70,000 square foot …
Tim Richardson, 09 Jan 2004
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3D patent suit extended to Dell, HP, IBM, Sony, others

Texas law firm McKool Smith has extended its 3D graphics patent violation litigation to target not just games publishers but hardware manufacturers. According to a GameDailyBiz report, HP, Dell, IBM, Toshiba, Sony, Acer, MPC, Systemax, Fujitsu, Matsushita, Averatec, Polywell, Sharp, Twinhead, Uniwill and JVC are all named as …
Tony Smith, 04 Nov 2004
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Market float for reseller consolidator

Maxima Holdings has taken over SAP reseller Azur for £16.7m. The firm intends to fund the takeover by floating on the Alternative Investment Market (AIM) later this month. Maxima is a new venture set up by Kelvin Harrison and Geoff Bicknell. The firm is looking for more acquisition targets among UK reseller and service …
John Oates, 11 Oct 2004
The Register breaking news

Sun and AOL form StarOffice pact for cheap desktops

Fresh off a major Linux desktop win in China, Sun Microsystems has found a PC friend closer to home with AOL now piloting a program to ship sub-$300 desktops running StarOffice. We predicted a move like this last week, and it's good to see Sun come through as promised so that El Reg appears somewhat on its game. The deal with …
Ashlee Vance, 19 Nov 2003
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PC dealer sues Apple over Tiger

US reseller Tiger Direct has sued Apple, claiming the Mac maker's decision to name the latest version of the Mac OS after the same feline predator infringes its trademark. Worse, the plaintiff claims, by adopting the name Tiger, Apple has "overwhelmed the computer world with a sea of Tiger references", displacing the reseller …
Tony Smith, 29 Apr 2005
The Register breaking news

Microsoft WinXP-ready PC scheme kicks off

The first "Windows XP-ready PCs" have poked their heads above the parapet, but strangely enough they're not from the usual suspects. Nor, indeed, are they very exciting. A small section which appeared on the Microsoft site over the past couple of days lists manufacturers Lan Plus, Micron, Premmio, Systemax and Oki, the latter …
John Lettice, 25 Apr 2001
The Register breaking news

Acer Ferrari 3200 Athlon 64 notebook

TrustedReviews.com Though it's a familiar sight for PC and notebooks to be adorned with logos it's a fair bet that a yellow one featuring a prancing pony and the initials 'SF' are not usually among them. 'SF' stand for Scuderia Ferrari, one of the most famous marques in automotive history and it's here because Acer is the …
Trusted Reviews, 18 Aug 2004