DigiDirect Group acquires Mwave to expand gaming portfolio

The digiDirect Group has announced the acquisition of online technology retailer Mwave, expanding its portfolio of retail businesses.

Mwave, established in 2006, is recognised for its extensive range of PC and gaming hardware and accessories, including custom PC builds, catering to a growing gaming community across Australia. The company employs around 100 staff, all of whom have been invited to continue in their roles as Mwave transitions to new ownership under The digiDirect Group.

This transaction follows other recent additions to The digiDirect Group's holdings, including the purchases of library supplier James Bennett and online bookstore Booktopia. These acquisitions mark an ongoing period of expansion for the group, which also includes its founding brand, consumer electronics retailer digiDirect.

Operational transition

Mwave's operations, currently based in Lidcombe, Western Sydney, are scheduled to move to The digiDirect Group's headquarters in South Strathfield. At the new location, Mwave is expected to benefit from advanced robotics and automation technologies installed at the group's customer fulfilment centre.

The integration of Mwave's product line is expected to enhance the offerings provided through digiDirect and create operational synergies for merchandising and marketing teams. These changes are anticipated to result in improved opportunities for both suppliers and customers associated with the combined businesses.

Leadership comments

Mwave has been a company we have long admired and felt would provide a natural complement to our 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.

"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."

Background and continuity

The acquisition was necessary after the shares of Mwave's former holding company, Esel, entered voluntary administration under DVT Group, citing difficulties encountered in the period following the COVID-19 pandemic. The purchase by The digiDirect Group includes Mwave's business and assets, arranged to ensure continuity for the company's customers, staff, and suppliers.

All staff members at Mwave have been offered continued employment with the group, adding to The digiDirect Group's existing workforce of more than 400 employees. The company has also made a commitment to fulfil any outstanding orders and gift cards previously purchased by Mwave customers.

The digiDirect Group now manages a portfolio that spans consumer electronics, online book retail, and library supplies, alongside interests in health and wellness, property, hospitality, and lifestyle ventures. The acquisition strategy reflects the group's approach to supporting continuity and stability in sectors affected by shifting consumer trends and post-pandemic market conditions.