Hot Topic Takes Over ThinkGeek

May 27, 2015

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Hot Topic Takes Over ThinkGeek

Hot Topic, a staple for pretty much every mall you go to that gives you instant shame for remembering how edgy you thought you were for buying their products in highschool has apparently purchased ThinkGeek for $122 million.

“We are pleased to have entered into this agreement and look forward to adding Geeknet’s innovative products and services to our portfolio,” said Lisa Harper, Chief Executive Officer of Hot Topic. “Geeknet’s unique concept and approach to the online retail community is a strong fit with our business strategy, which is focused on delivering great products for avid fans of various licensed properties, and we are excited about the opportunity to help drive profitable growth and further enhance value for Geeknet’s customers.”

“Our Board and management team believe this transaction is in the best interest of the Company and its stockholders,” said Kathryn McCarthy, Chief Executive Officer of Geeknet. “We remain focused on increasing our visibility, providing a platform to stimulate ideas and creativity, and expanding our product offerings to keep up with industry and customer demands. As a subsidiary of Hot Topic, Geeknet will be well-positioned to achieve these goals.”

Pursuant to the agreement, the tender offer will commence no later than June 19, 2015. Consummation of the tender offer is subject to certain customary conditions. Shareholders representing approximately 21% of Geeknet outstanding shares have committed to participate in the tender offer.

ThinkGeek is one of my go to websites for buying gifts for friends and family, I can only hope that they keep their awesome vibe post deal. I can’t saw I dislike Hot Topic because they also have awesome stuff in their stores but sometimes they market towards a different demographic than I am apart of, whereas ThinkGeek has been strictly for geeks passionate about their favorite fandoms.

What do you think about all this?

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