08/07/2008 - 10:10

ThinkSmart expands market reach

08/07/2008 - 10:10

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Perth-based international office equipment financing company ThinkSmart Ltd will expand its reach in the Europe and New Zealand markets after agreements were secured with Media-Saturn France and Dick Smith Electronics.

Perth-based international office equipment financing company ThinkSmart Ltd will expand its reach in the Europe and New Zealand markets after agreements were secured with Media-Saturn France and Dick Smith Electronics.

Below is the full announcement:

ThinkSmart Limited (ASX:TSM), an international computer and office equipment financing company, today announced it has reached agreement with Media-Saturn France to trial its RentSmart B2B rental finance product in their stores.

ThinkSmart has also reached an in principle agreement with Dick Smith Electronics to launch in its New Zealand stores.

Media-Saturn France is a part of the German company Media-Saturn-Holdings GmbH, a €15.2bn electrical goods retailer, that operates the "Media Markt" and "Saturn" retail brands in 15 countries across Europe. The trial, which is scheduled for the second half of 2008, will take place in four Saturn brand stores in the north of France.

"The French market remains a significant opportunity in Europe with Media-Saturn being one of the dominant players in that market," said ThinkSmart founder and Chief Executive Officer, Ned Montarello.

"Strategically, Media-Saturn presents not only as an important beachhead retailer for us to re-establish nationally in France, but also clearly provides significant scope into the wider European market should we achieve the desired synergies."

In New Zealand, ThinkSmart will launch into Dick Smith Electronics' 65 stores which will expand its market presence in New Zealand to circa 80 stores inclusive of the JB Hi-Fi Group stores that it currently services.

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