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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.

    “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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