Gamestop is now the proud owner of ThinkGeek

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.

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

About The Author

Keith Mitchell
Editor-in-chief and all-around good guy!

Keith Mitchell is the Founder and Editor in Chief of The Outerhaven. A grizzled IT professional during the day, but a passionate lover of video games after his 9-5 grid. Loves playing the Dark Souls series and has been gaming since he was 6 years old. You can find him on Twitter as @Shadowhaxor or you can email her at keith.mitchell@theouterhaven.net.