GameStop grows tech business with wireless acquisition

GameStop (NYSE:GME) has added 507 new stores to its Technology Brands portfolio with the addition of three national AT&T authorized retailers: Cellular World, Midwest Cellular and Red Skye Wireless.

These additions help grow GameStop's presence in the wireless market. The company acquired Spring Mobile, an AT&T authorized retailer, in 2013 along with its 90 stores. GameStop is now AT&T's largest authorized retailer with 1,421 locations and is the largest distributor of Cricket Wireless through its 3,400 GameStop stores.

"Today's announcement showcases the strength of our relationship with AT&T and fortifies our diversification efforts," said CEO Paul Raines. "With the continued investments in our Technology Brands business, we are on track to achieve our goal of generating $200 million of operating earnings in this growing segment by the end of 2019."

It's this type of diversification that has helped GameStop prosper and withstand lulls in the video game market. 

For more:
- see this GameStop announcement