In the face of a purchase agreement from GameStop valued at $US140 million, ThinkGeek parent company Geeknet terminated the $US122 million deal with Hot Topic it announced last week.
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 $US20.00 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 $US140 million, including $US37 million of cash and cash equivalents as of March 31, 2015.
Hopefully this means we’ll soon be able to trade in Star Wars ice cube trays for store credit.
Comments
6 responses to “Sorry Hot Topic, GameStop Is The Proud New Owner Of ThinkGeek”
Maybe the shipping will finally make some sense? But that would mean a t shirt will have 30 dollar shipping 😛
Bit of rort really. I’d only order from there when I had several items I wanted to make it a bit more feasible.
Oh no…
…
CRAP!
Holy shitballs, the PR spin is strong in this one…….
Secondly, holy shitballs thinkgeek was on the NASDAQ?
I would assume this means that EB games will start stocking a few think geek items? At highly outrageous prices, but stocked none the less.
They already do. Most of their Minecraft loot is from ThinkGeek. And those portal guns they sold a while back were from there too…