Delta Communications and Trade (DCT) has taken 100 percent of shares in CompuMe, an electronics retail company.
Amr Sheira, Deputy Manager of CompuMe, said that all the company’s shares and trademarks CompuMe were sold to DCT in the biggest acquisition agreement in communications sector since January. He refused to disclose the value of the agreement between the two companies.
All of CompuMe’s eight stores were transferred to DCT retail assets (Computer Shop, Mobile Shop, Radio Shack), which increases its opportunities to occupy a large share in the retail electronics market, particularly because CompuMe accounted for 25 percent of domestic market sales.
Sheira added, “Currently I am considering several offers to fill leadership positions in a number of electronic retail companies,” noting that he might establish a private investment company of his own.
Sources said that DCT is studying a plan to merge CompuMe and Computer Shop to expand its electronics retail activity in the domestic market.
Tarek Abdel Hameed, Executive Manager of Sistrum Electronics, said that DCT’s acquisition of CompuMe would greatly impact the domestic market, particularly because the company has several branches in the UAE and Saudi Arabia.
He expects that the acquisition will benefit the domestic market, lower risk for Arab and foreign investors and will increase local investments, boosting confidence in the Egyptian market. He added that the retail market will be deeply impacted if DCT’s companies are merged Computer Shop and CompuMe are combined.
CompuMe has eight stores in the greater Cairo area and Alexandria. It was planning to open two new stores next November, and it had recently signed a “Store in Store” agreement with Mobinil . The agreement stipulates that CompuMe will sell computers and accessories at all Mobinil’s stores to benefit from its 30-million clientele base.