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.
A group of investors led by the founder of bookstore chain 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.