A group of investors led by the founder of bookstore chain Barnes & Noble has acquired the assets of Neostar Retail Group, a 460-software chain of stores that operates under the names Babbage's and Software Etc. Leonard Riggio, the chairman of Barnes & Noble, and the investors, paid $58.5 million for the Neostar headquarters and inventory. The company has been renamed Babbage's Etc. and next week plans to re-stock stores, which had been depleted after NeoStar went bankrupt.
Short Take: Investors acquire Neostar assets
A group of investors led by the founder of bookstore chain Barnes & Noble has acquired the assets of Neostar Retail Group, a 460-software chain of stores that operates under the names Babbage's and Software Etc. Leonard Riggio, the chairman of Barnes & Noble, and the investors, paid $58.5 million for the Neostar headquarters and inventory. The company has been renamed Babbage's Etc. and next week plans to re-stock stores, which had been depleted after NeoStar went bankrupt.
Discuss: Short Take: Investors acquire Neostar assets
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