For many fans of gadgets, games and electronics Best Buy is the place to go shopping when you need to scratch the gadget itch. What some don’t realize is that Best Buy owns and operates some other very popular retail locations around the world.

Best Buy announced today that it has agreed to buy 50% of Carphone Warehouse for a cash amount of $2.1 billion. The purchase will allow Best Buy to open retail stores in Europe and provide Carphone Warehouse with the funds to pay down debt and offer new services.

While some electronics and gadget retailers like CompUSA, Sharper Image and Circuit City have had financial woes, Best Buy has recorded revenues of $40 billion and has 150,000 employees and 1,314 stores in the U.S., Canada and China. Carphone Warehouse continues to own 100% of its UK fixed line telecoms business under the new deal.

Best Buy