Mobile phone giant Carphone Warehouse and electronics specialist Dixons have announced a £3.8 billion merger deal. Something Pocket-lint revealed was in the works last March.
Dixons, the owner of Currys and PC World, will join with Carphone Warehouse to create a new firm known as Dixons Warehouse. The ownership will be split evenly between the two firms.
While Dixons operates more than 500 Currys and PC World stores in the UK, Carphone Warehouse commands 2000 stores.
The merger should save the companies £80 million per year. Dixons Chief executive Sebastian James said: "Together we can create a seamless experience for our customers that will enable technology to deliver what it promises - that is, to make their lives better. This is a very rare thing, a merger which is based on what is happening out in the world, rather than internal navel-gazing"
Carphone Warehouse says the merger should create significant job numbers "resulting in an increase of approximately 4 per cent".
But some current staff will loose their jobs in the merger, says Dixons. Around 2 per cent are in the line of fire "as a result of the rationalisation of certain operational and support functions".