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Print Edition StoriesFriday, May 2, 2008
CMGI buys electronics firm PTS for $45M
CMGI Inc. has acquired PTS Electronics, a consumer-electronics service repair and reverse logistics provider for $45 million in cash, according to officials at the storied software holding company.
Indiana-based PTS remanufactures mobile phone products and HDTV and digital main boards and tuners. CMGI (Nasdaq: CMGI) said the acquisition of PTS will complement ModusLink, CMGI's supply chain services business. PTS generated 2007 revenue of about $37.4 million, according to CMGI.
In February, CMGI reported plans to purchase Open Channel Solutions Inc., a developer of entitlement and e-business management solutions, for $11 million in cash.
Waltham-based CMGI became a brand-name Internet company in the late 1990s as a holder of several successful companies that were either sold or went public. As the economy slowed, it exited much of its Internet-focused holdings and has since focused mainly on supply chain and fulfillment businesses.
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