MICROAGE, INC. COMPLETES THE SALE OF CERTAIN ASSETS OF ITS MICROAGE TECHNOLOGY SERVICES BUSINESS
January 10, 2001
January 11,2001
On January 10, 2001, MicroAge, Inc., completed the sale of certain assets of MicroAge Technology Services, LLC, to CompuCom Systems, Inc., (Nasdaq: CMPC), a digital infrastructure solutions provider for approximately $81 million. CompuCom emerged as the successful bidder in a Court auction to sell the assets of MicroAge Technology Services through competitive bidding procedures under Section 363 of the U.S. Bankruptcy Code. The agreement was approved by the Bankruptcy Court. Conway, Del Genio, Gries & Co. served as financial advisors in this transaction.
MicroAge and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code on April 13, 2000. MicroAge Technology Services LLC was one of the named subsidiaries in the proceeding.
MicroAge Technology Services provides technology infrastructure services and technology deployment for mid and large-sized organizations across the United States.
For further information, please contact Robert A. Del Genio of Conway, Del Genio, Gries & Co., LLC, a firm specializing in corporate finance advisory services with a focus on restructurings and mergers and acquisitions. Mr. Del Genio’s telephone number is (212) 813-1300.