1. Market Data
August 2, 2016

GameStop completes purchase of AT&T retailers in US

US-based GameStop has completed the acquisition of three national AT&T authorised retailers, namely Cellular World, Midwest Cellular and Red Skye Wireless.

US-based GameStop has completed the acquisition of three national AT&T authorised retailers, namely Cellular World, Midwest Cellular and Red Skye Wireless.

This acquisition adds 507 stores to its Technology Brands business, which includes Simply Mac and Spring Mobile stores.

"Today's announcement showcases the strength of our relationship with AT&T and fortifies our diversification efforts."

In 2013, GameStop forayed into the mobile segment with the purchase of AT&T authorised retailer Spring Mobile with around 90 stores.

Currently AT&T's largest authorised retailer with 1,421 AT&T Mobility stores, GameStop is also the largest retail distributor of Cricket Wireless products and services.

GameStop CEO Paul Raines said: "Today's announcement showcases the strength of our relationship with AT&T and fortifies our diversification efforts.

"With the continued investments in our Technology Brands business, we are on track to achieve our goal of generating $200m of operating earnings in this growing segment by the end of 2019."

Operating more than 7,000 stores across 14 countries, GameStop is a global, omnichannel video game, consumer electronics and wireless services retailer.