The entire Dick Smith Electronics chain, its brand and its 325 stores, has been sold by Woolworths to a private equity group.
The ABC is reporting that the sale cost AUD$20 million, with the deal set to be completed by later this year.
DSE has always had a conservative relationship with the games industry, stocking primarily PC titles and having a huge fire sale in April this year.
The sale caused a backlash from consumers due to incredibly short supply and rumours of staff receiving priority access to the very limited stock, which led to Dick Smith re-confirming that it would indeed be stocking games moving forward, although its market share remains quite modest compared to its presence a decade ago.
The Dick Smith re-structuring last year reportedly cost Woolworths AUD$420 million. The sale goes to Achorage Capital Partners. Woolworths has been looking to sell the tech chain since early this year.
DSE current employs around 4500 people.
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