GameStop will buy online geek-culture company ThinkGeek's parent company, Geeknet Inc., for $140 million USD.
The bid beats out mall-standard retailer Hot Topic, which had pledged $122 million to buy all outstanding shares of the company at the end of last month.
GameStop believes the acquisition will provide "significant expansion" to the company's global business. GameStop CEO Paul Raines said the company is excited to leverage ThinkGeek's expertise in product development to broaden GameStop's own offerings in the collectibles market.
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The bid beats out mall-standard retailer Hot Topic, which had pledged $122 million to buy all outstanding shares of the company at the end of last month.
GameStop believes the acquisition will provide "significant expansion" to the company's global business. GameStop CEO Paul Raines said the company is excited to leverage ThinkGeek's expertise in product development to broaden GameStop's own offerings in the collectibles market.
Continue reading…
Continue reading...