Hot Topic Is Acquiring ThinkGeek, Shall Become More Powerful than You Could Possibly Imagine
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.
First of all, congrats to ThinkGeek! They’ve been a nerd favorite for a while what with their amazing April Fool’s Day items and their Star Trek phaser remote and such. Your mileage on Hot Topic may vary but for a nerdy teen in the late 90s/early 00s, they were about the only game in town to find merchandise related to video games and superheroes. They’ve certainly expanded in that area since then and have recently proved extra popular with the TMS crowd thanks to their partnership with Her Universe and other brands we love.
How will the new management affect the day-to-day at ThinkGeek? We’re not sure yet. They certainly have a great thing going on their own so let’s hope Hot Topic just helps them do more of that.
(via Eric Limer)
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