Dick Smith lives to trade again following the acquisition of the company's intellectual property by Australian e-commerce entrepreneur Ruslan Kogan.

The 32-year-old multimillionaire announced on Monday he'd purchased the collapsed electronics retailer for an undisclosed price and plans to reopen Dick Smith as an on-line only store.

Australian e-commerce pioneer Ruslan Kogan plans to re-open Dick Smith as an online only store after purchasing the company's intellectual property recently. File photo.

The Sydney Morning Herald reports the acquisition includes the brand and trademarks, the online business in New Zealand and Australia, customer and loyalty databases, plus websites and domain names.

Since the company's collapse, receivers Ferrier Hodgson have maintained the online business as its gone about closing all of Dick Smith's physical stores and liquidating about $200 million of stock.

Kogan runs online electronic business kogan.com which he founded in 2006 and will take control of the Dick Smith online store in June.

In February Ferrier Hodgson announced that Dick Smith stores across New Zealand would close after the receivers failed to find a buyer for the troubled business.

There are sixty-two Dick Smith stores across New Zealand, including Tauranga, Mount Maunganui, Whakatane and Rotorua, which employs some 430 Kiwi employees.