Watford Electronics, which owns the PC brands Aries, Carrera, Demonite, Time and Tiny as well as the Savastore.com website, has been bought out by Globally, according to a message posted on the Savastore site.

In consequence of the purchase, the site has temporarily closed for business. The company claims it will reopen "as soon as possible, following a full review of both business and technological processes".

Globally reportedly intends to expand on Watford's existing business, and the Savastore site's notice of sale includes a pledge that the purchasing company will wherever possible "assist and support all existing Savastore.com customers whose goods are not already covered by a manufacturer's warranty".

The news follows rumours earlier this month that the company was experiencing monetary difficulties, rumours that appeared to gain credence from the fact that several of Watford's PC brands – most notably the Time and Tiny brands, bought following Granville Technology Group's collapse in 2005 – were acquired as the result of financial misfortune.