Heathkit announced today they have reached an agreement to acquire the assets of Radio Shack for $300M, blocking efforts from mobile wireless carrier Sprint to acquire a large portion of the struggling and now bankrupt North American consumer electronics retailer. No further details were mentioned by Heathkit other than they “had big plans” and “everyone should stay tuned to the website for details.”
Radio Shack CEO Joseph Magnacca was quoted in a press release as saying “We are very happy and excited about the pending transaction with Heathkit. The Heathkit team has shown us they have a more viable business plan than Sprint, and our creditors agree that the Heathkit team brings a higher level of management, leadership, and strategy to Radio Shack, more than the company has ever had.”
Immediately after the announcement amateur radio online forums were alive with discussions and speculation on when closed stores would reopen. Several commenters reminisced about the days when Radio Shack offered amateur radios and components. One person noted how difficult it is to get good 68k ohm resistors and Radio Shack could chart a course to profitability if they just stocked these resistors. Others bemoaned Radio Shack’s practice of asking for customer addresses, claiming it was a front for NSA information-gathering efforts. Several commenters agreed that Radio Shack should offer a vacuum tube code practice oscillator kit.
5 thoughts on “Heathkit Announces Acquisition of Radio Shack”
Yep, Heatkit announces it just at April fools day….how is it possible…
You do realize that there are folks out there who will take this and run with it? :-)
Of course! :-)
This is a good day for such an announce !