Oh, BUGGER.

[unixronin]

CHICAGO (Reuters) - Best Buy Co. Inc. (BBY.N: Quote, Profile, Research) said on Tuesday it would buy Speakeasy Inc., an independent broadband voice, data and IT services provider, for about $97 million to strengthen its small business technology portfolio.

Best Buy, the top U.S. consumer electronics retail chain, expects to close the acquisition in the first quarter of fiscal 2008 and said the deal should not affect fiscal 2008 earnings.

This can't be good.  Speakeasy says the deal is for Speakeasy to continue to operate as an independent business unit, with Best Buy keeping its hands off.  I believe that's what Speakeasy was TOLD.  I don't for one minute believe it'll stay that way for more than a year or two.  The pointy-hairs just won't be able to resist fucking around with it.

Comments

[darthgeek.livejournal.com]

"New Best Buy Broadband! With blazing 760/128 DSL!"

[gdmusumeci.livejournal.com]

Just this very morning, I switched my service away from Speakeasy -- not four hours after getting the "we're being bought by Best Buy" email....

[unixronin.livejournal.com]

Who did you switch to?

I'm hoping that by the time it actually goes through, FiOS will be an alternative here.

[gdmusumeci.livejournal.com]

Sonic (http://www.sonic.net/). They've got a pretty good reputation in these parts.

[ariyanakylstram.livejournal.com]

agreed, as another speakeasy user.

but I'm going to say the same thing I have said about being part of a company that is being acquired by Cisco...

"as long as my personal experience doesn't change significantly, and it still feels like I am working for/with $smaller_company, I'll be around"

[unixronin.livejournal.com]

Yeah. I'll stick around and hope they don't fuck it up, because they're the best DSL provider and general clueful ISP I know. But if Best Buy screws the pooch, I'll start shopping around.

[cymrullewes.livejournal.com]

DJ did mention his ISP already...

[bratling.livejournal.com]

Speakeasy says the deal is for Speakeasy to continue to operate as an independent business unit, with Best Buy keeping its hands off.

note that's for the "near term". next year, all bets are off, i'd say.

i'm nervous but i'll see how it goes. i really don't want to go ISP shopping again. if i have to, i may just go to Comcast Business cable.

[jilara.livejournal.com]

"Independent business unit" is a term I've got more than a little familiarity with. It basically means you're screwed, and on the fast track for dismantlement and assimilation. Let's see, that's the phrase they gave us at Motorola, Stratus, Quickturn... Wave goodbye to Speakeasy.

Best Buy

[felinecanine.livejournal.com]

I'm also skeptical that Speakeasy will surive this deal unscathed.
But if you are dismissing Best Buy as a bunch of old pointy-hairs who
only do business the old-fashioned way, you might want to check out this
article (http://www.businessweek.com/magazine/content/06_50/b4013001.htm) from Business Week about the "Results-Only Work
Environment" they are implementing in some departments. I found it
fascinating.

Re: Best Buy

[unixronin.livejournal.com]

I'll definitely check that out.

Re: Best Buy

[unixronin.livejournal.com]

Hmmmmmm ........... that is a VERY interesting article. I may not agree with some of their retail policies, but it sounds like as far as running a company in the 21st century, Best Buy Gets It.

Also, I wasn't previously aware that Geek Squad was a Best Buy operation.