Hot Topic to buy ThinkGeek in $122Million Deal
You’ll soon be able to get your Enterprise pizza cutters and studded leather chokers in one place, as Hot Topic has announced plans to purchase ThinkGeek’s parent company, Geeknet.
PR Newswire reports the acquisition deal is worth $122 million. Given the two company’s overlapping target markets, the deal makes a lot of sense.
“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.”
– Lisa Harper, Hot Topic CEO
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