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The OuterhavenThe Outerhaven
Home»News»Geek»Gamestop is now the proud owner of ThinkGeek

Gamestop is now the proud owner of ThinkGeek

By Keith MitchellJune 2, 2015

Gamestop has gone and purchased ThinkGeek, right from under the nose of Hot Topics, who was previously in discussions to purchase the company for $122 million dollars. Instead Geeknet, the parent company of ThinkGeek chose to go with Gamestop’s $140 million offer.  

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. – Gamestop

If you haven’t been inside of a Gamestop as of lately, the company has been pushing geek culture items such as Figma’s, Funko Pop Vinyl’s, t-shirts, toys and much more. So it would make sense that Gamestop would want to go this route, especially since digital distrubtion is kinda eating into it’s pre-owned gaming business. It’s evolve or die, so they say.

Pretty soon it would seem that Gamestop will not only be a stop for gaming related items but also geek culture and as much as people dislike Gamestop, that’s not a bad thing.

Source: http://news.gamestop.com/press-release/business/gamestop-corp-announces-agreement-acquire-geeknet-inc

gamestop Geek Culture hot topic Thinkgeek
Keith Mitchell - Headshot-PS_Gear_400x400
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Keith has been a fan of geek culture and video games ever since his father gifted him his first gaming console many decades ago and has used this love of for the genres to start The Outerhaven. Keith keeps follows on the ongoings of videogames, anime, comics and technology, and while he has been writing about these topics for the past 14 years, he has been a gamer and tech guy for 30 years.

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