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US: GameStop buys Think Geek in $140 million deal

By  |  June 2, 2015

Video game retailer GameStop announced on Tuesday that it has acquired Geeknet, the parent company of tech-focused online retailer Think Geek. GameStop will acquire all of Geeknet’s outstanding stock for $20 per share, meaning the deal is worth an estimated $140 million.

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    Geeknet was previously in merger discussions with Hot Topic, but those talks have been terminated.

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    “Following discussion with both GameStop and Hot Topic, the Board of Directors of Geeknet determined that the GameStop transaction represented a superior proposal,” GameStop said in a statement. “Geeknet will pay Hot Topic a termination fee pursuant to the Hot Topic agreement, for which GameStop has agreed to reimburse Geeknet.”

    Full content: The Dallas Morning News

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