Two weeks after its merger with fellow Internet computer cataloger Netdirect Corp. International was called off, Reno, NV-based HardwareStreet.com agreed on May 3 to be acquired by Tampa, FL-based Internet marketer InsiderStreet.com for $40 million in common stock.
The deal, which includes two companies that HardwareStreet bought also on May 3 – systems and services provider AMS Systems, and membership-based computer e-tailer ClubComputer.com – will combine all parties to create a new wholly owned subsidiary. Called e-Biz Street, the subsidiary becomes one of the largest 10 computer products and services e-tailers.
E-Biz Street will target markets such as government, education, small- to medium-sized businesses and affinity marketing groups. All combined, the new company has access to more than 100 affinity groups with a potential online/offline reach of more than 50 million people.