PC retailer Mwave acquired by digiDirect Group

PC retailer Mwave has announced its acquisition by digiDirect Group, while Mwave’s parent company Esel Pty Ltd has entered into voluntary administration.

In a blog post on the company's website, Mwave stated that it would continue to trade from its Lidcombe headquarters for the time-being before eventually transferring Mwave operations across to The digiDirect Group’s headquarters in South Strathfield in Sydney.

All employees have been offered roles under the new management.

The post stated that former owners of the Mwave business, Esel Pty Ltd, had entered into voluntary administration, appointing DVT Group as administrators.

Mwave's post said there were no plans to change pricing, and loyalty and rewards programs would remain unchanged, and that the new owners would honour all warranties and businesses were still able to place orders.

"Under the new management, our vision is to build on the Mwave operation that customers know and love and utilise the resources and expertise within The digiDirect Group," the post stated.

"The digiDirect Group and its subsidiary companies, has a long history and stellar reputation of serving its customers and broader industry with excellence on a consistent basis. Mwave will be no exception to this.

"We are dedicated to keeping customers regularly informed about any significant changes and updates through our website, email newsletters and social media channels. Our goal is to ensure transparency and provide timely information about progress, improvements, and any operational changes that may affect customers."

digiDirect Group chairman and CEO Shant Kradjian said Mwave has been a company that digiDirect has long admired and felt would provide a natural complement to the businesses.

"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 Kradjian.

“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.”

Mwave was founded in 2006 by Victor Lee and in late 2020 we reported that its annual sales were $150 million. The company targets the PC enthusiast, gaming and esports markets, as well as selling hardware and software to small businesses.

In 2020, the reseller received investment from private equity firm Anacacia, following a previous investment from Right Click Capital.

At the time, Anacacia became the majority shareholder and founder Victor Lee, management and Right Click Capital retained material stakes.

Mwave, digiDirect Group and DVT Group have all been contacted by techpartner.news for comment.