UPDATE: GameStop buys ThinkGeek out from under Hot Topic!
This is some interesting and surprising news!
"Geeknet (parent company of ThinkGeek.com) announced that it has terminated its previously announced merger agreement with Hot Topic, Inc. (“Hot Topic”). Following discussion with both GameStop and Hot Topic, the Board of Directors of Geeknet determined that the GameStop transaction represented a superior proposal. Geeknet will pay Hot Topic a termination fee pursuant to the Hot Topic agreement, for which GameStop has agreed to reimburse Geeknet."
Do you think GameStop and ThinkGeek make a good pairing?
5/26/2015
Have you heard? Hot Topic - everyone's favorite mall goth teen time kill - is buying Thinkgeek.com! I know Hot topic has been shifting its brand to nerd items over the last year or so, but this is a giant leap in that direction!
According to RTTNews:
Geeknet, Inc. (GKNT), the parent company of online retailers ThinkGeek and ThinkGeek Solutions, Tuesday said it would be acquired by Hot Topic, Inc., a mall and web-based specialty retailer and a portfolio company of private equity firm Sycamore Partners, for $17.50 per share.
The acquisition, which has a total equity value of about $122 million, will be completed by means of a tender offer to be commenced shortly.
If this means more quality nerd merch in a nearby retail location, I may have brave going to 'the Mall' for the first time in a decade to shop!
