Sorry Hot Topic, GameStop Is The Proud New Owner Of ThinkGeek

Illustration for article titled Sorry Hot Topic, GameStop Is The Proud New Owner Of ThinkGeek

In the face of a purchase agreement from GameStop Corp. valued at $140 million, ThinkGeek parent company Geeknet terminated the $122 million deal with Hot Topic it announced last week.

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From the official announcement:

GameStop Corp. (NYSE: GME), a family of specialty retail brands that makes the most popular technologies affordable and simple, and Geeknet, Inc. (Nasdaq: GKNT) (“Geeknet”), the parent company of ThinkGeek and ThinkGeek Solutions, today announced they have entered into a definitive agreement under which GameStop will acquire all of the outstanding shares of Geeknet’s common stock for $20.00 per share in cash. The transaction has been approved by the board of directors of both companies and will be completed by means of a tender offer. The transaction has a total equity value of approximately $140 million, including $37 million of cash and cash equivalents as of March 31, 2015.

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Hopefully this means we’ll soon be able to trade in Star Wars ice cube trays for store credit.

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DISCUSSION

I noticed the last time I was in Gamestop they were really pushing like geeky stuff like t-shirts and stuffed animals in a way I didn’t remember them doing previously. Also a lot of expensive figures of famous video game characters. Some of it was neat? ThinkGeek could probably help with making more of it neat.