Hot Topic To Acquire ThinkGeek

Posted on May 27, 2015

Hot Topic is acquiring ThinkGeek. ThinkGeek is known for its fun products, many of which are focused on fantasy and science fiction shows and films, such as Star Wars, Star Trek, Game of Thrones and Doctor Who. Hot Topic announced plans to acquire Geeknet, the parent company of ThinkGeek in a deal worth $122 million.

Hot Topic CEO Lisa Harper says in a statement, "We are pleased to have entered into this agreement and look forward to adding Geeknet's innovative products and services to our portfolio. 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."

Bloomberg reports that Hot Topic has offered to acquire Geeknet common stock for $17.50 per share, a premium of 122% over its last closing price. Hot Topic does sell some merchandise that is similar to what ThinkGeek carries. The teen clothing retailer often has movie product tie-ins. Doctor Who products are currently featured on the Hot Topic homepage. Hot Topic has over 650 stores in the U.S. and Canada that could be used to sell some of ThinkGeek's products.

The Bloomberg story also shares some interesting ThinkGeek history. The company sold computers before it became a retailer of geek products. It was first known as VA Linux Systems and used to sell PCs that came pre-installed with Linux.

Update 7-20-15: Geeknet ended up being acquired by GameStop, see here.


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