Navarre Corporation

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Navarre Corporation
Former type Public
Industry Computer products distribution and publishing
Fate Reincorporated into Speed Commerce
Founded 1983
Founders Eric H. Paulson
Defunct 2013
Headquarters New Hope, Minnesota, United States
Employees 648
Subsidiaries Encore, Inc.
BCI

Navarre Corp. was a public distribution and publishing company founded in 1983 by Eric H. Paulson.[1] The company is headquartered in New Hope, Minnesota. Navarre owns two subsidiary companies: a software publisher, Encore, Inc.; and a distributor, Navarre Distribution Services; The company formerly offered niche films through BCI Home Entertainment aka BCI Eclipse Company (formerly Brentwood), but this division was closed in a 2008 re-structuring due to the recession, after 2 years of being unprofitable.

In June, 2005, Navarre determined that its financial statements for 2004, and the first and third quarter of 2005 should be restated, because expenses related to the incentive-based deferred compensation of the Company's CEO was recorded in the wrong quarter.[2]

Acquisition and Sale of Funimation Entertainment[edit]

In May 2005, Navarre acquired Funimation Productions. [3] After the sale, Funimation Productions changed its name to Funimation Entertainment. Then in April 2011, Navarre sold Funimation to a group of investors including Gen Fukunaga. [4]

Merger with SpeedFC and name change to Speed Commerce[edit]

On September 28, 2008, Dallas-based SpeedFC agreed to merge with Navarre for $50 million in cash and stock. The merger closed in 2013, the company changed their name from Navarre Corporation to Speed Commerce afterward.

On July 9, 2014, Syracuse NY based Wynit Distribution LLC acquired Navarre Distribution Services and Encore from Speed Commerce.

References[edit]

  1. ^ [1] Yahoo finance accessed February 14, 2007
  2. ^ "Navarre Corporation Reports Financial Results for Fourth Quarter and Fiscal Year 2005". 
  3. ^ "Navarre Corporation Acquires [Funimation], and Provides Financial Update and Guidance" (Press release). Navarre Corporation. 2005-05-11. Retrieved 2011-06-02. 
  4. ^ "Navarre Corporation Announces Sale Of FUNimation Entertainment". GLOBE NEWSWIRE. 2011-04-04. Retrieved 2011-04-04. 

External links[edit]