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

[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.