The RadioShack brand name was sold to the highest bidder – hedge fund Standard General – for $26.2 million, but not before Apple intervened to protect the data of its customers, reports Law360, as spotted by AppleInsider.
While the bidding process was underway, Apple filed a motion arguing that RadioShack does not have the right to sell customer information, due to the agreements it signed with the iPhone maker.
“In order to protect its customers’ personal information, Apple oversees the collection and use of customer information collected by its retail partners, including RadioShack,” Apple’s filing with the court reads. “The reseller agreement between Apple and RadioShack protects information collected by RadioShack regarding purchasers of Apple products and prohibits the proposed sale of such information.”
As RadioShack tries to monetize its intellectual property, tech companies such as Apple are stepping in to protect their customers’ personal data.
By placing the highest bid, Standard General has gained the right to buy RadioShack and access the accompanying customer data. In this case the sale could include some 67 million physical addresses and 8.5 million email addresses.
Earlier last month US Bankruptcy Judge Brendan L. Shannon said he wouldn’t approve the sale of any customer data he finds impermissible. The fate of the personal data involved in the sale will likely be decided on May 20.