M&A Deal Summary

Best Buy Acquires Geek Squad

On October 1, 2002, Best Buy acquired consumer services company Geek Squad

Acquisition Highlights
  • This is Best Buy’s 1st transaction in the Consumer Services sector.
  • This is Best Buy’s 3rd transaction in the United States.
  • This is Best Buy’s 2nd transaction in Minnesota.

M&A Deal Summary
Date 2002-10-01
Target Geek Squad
Sector Consumer Services
Buyer(s) Best Buy
Deal Type Add-on Acquisition

Target

Geek Squad

Minneapolis, Minnesota, United States
Geek Squad is a technology service and repair unit that operates within Best Buy retail stores. It was formed in 1994 in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

Best Buy

Richfield, Minnesota, United States
Category Company
Founded 1966
Sector Retail
Employees61,200
Revenue 46.3B USD (2023)
DESCRIPTION
Entrance to Best Buy's corporate headquarters in Richfield, Minnesota.
Entrance to Best Buy's corporate headquarters in Richfield, Minnesota.

Best Buy is a multi-channel consumer electronics retailer with stores in the United States, Canada, China, and Mexico. Best Buy also sells through its BestBuy.com website. Best Buy was founded in 1966 and is based in Richfield, Minnesota.

DEAL STATS #
Overall 4 of 12
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 4 of 11
State (Minnesota) 2 of 2
Country (United States) 3 of 9
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-14 Future Shop

Burnaby, British Columbia, Canada

Future Shop is a Canadian retailer and e-tailer of consumer electronic products. It was formed in 1982 and is based in Burnaby, British Columbia.

Buy CA$580M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-22 Pacific Sales Kitchen and Bath Centers

Thousand Oaks, California, United States

Pacific Sales Kitchen and Bath Centers, Inc. is a retailer of high-end home improvement products that operates 14 showrooms in Southern California.

Buy $410M
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