The digiDirect Group has rescued online technology retailer Mwave from voluntary administration.
Mwave is among the latest acquisitions of The digiDirect Group, following library supplier, James Bennett in May and online bookstore Booktopia in August 2024.
Impacted Mwave staff have been offered employment opportunity by The digiDirect Group.
As part of the acquisition, Mwave will move its operations from its current headquarters in Lidcombe in Western Sydney to The digiDirect Group’s headquarters in South Strathfield, which boasts of state-of-the-art robotics and an automation-equipped customer fulfilment centre.
“The business has been a pioneer in the technology space and enables us to drive scale in a fast-growing category, borne from consumer demand, fuelled by the continued growth of the gaming community,” said Shant Kradjian, Chairman and CEO at The digiDirect Group.
“We believe we will provide a great home for the Mwave business, especially considering the infrastructure we have in our Group, most notably in our advanced Customer Fulfilment Centre, and the collective expertise among our personnel across multiple departments. We see significant potential taking Mwave from strength to strength.”
While The digiDirect Group has acquired Mwave and its assets to ensure its continuity, the shares of former holding company, Esel Pty Ltd, entered into voluntary administration under DVT Group.
The digiDirect Group said it is also committed to fulfilling all unfulfilled orders and gift cards purchased by Mwave customers.