GameStop Is Buying ThinkGeek
Bohs Hansen / 1 year ago
Last week it was reported that the retailer Hot Topic had bought ThinkGeek and the deal seemed to be in place – and it was, but GameStop really wanted the nerdy internet shop ThinkGeek.
The reason why ThinkGeek went back on their deal with Hot Topic and went with GameStop instead is very simple, money. Gamestop offered $20 per share where Hot Topic only offered $17.50 per share. After having a closer look at the deals, ThinkGeek went with GameStop that also will pick up the fees ThinkGeek needs to pay to back out of the previous deal with Hot Topic.
We don’t know yet how GameStop will incorporate ThinkGeek’s portfolio of nerdy gadgets into their own or if they’ll just keep running it as a separate business. The last one is however very unlikely as ThinkGeek hasn’t had the biggest success throughout time. The press release announcing the acquisition notes that GameStop wants to leverage Geeknet’s product development expertise to broaden their product offering in the fast-growing collectibles category.
So from the looks of things, you’ll find a lot more toys and weird geek gadgets from USB powered devices of all ranges to remote controlled toys in your local GameStop stores within a short period of time.
Thank you TheVerge for providing us with this information