GameStop Beats Out Hot Topic In Bid To Buy ThinkGeek

June 2, 2015

gamestop-buying-thinkgeek.jpg

Well it seemed like the fat lady had already sung and was headed to get a sandwich when I reported Hot Topic was buying ThinkGeek last week, but it appears GameStop has swooped in like some kind of eagle that only gives me $3.29 trade-in on most of my used games and claimed the deal for themselves. BONUS FUN FACT: that's my local GameStop in the picture where my friends and I meet and loiter after school.

The purchase between Hot Topic and GeekNet, ThinkGeek's parent company, was seen by many, including us, as a done deal. At the last minute, however, it appears that GameStop stepped in with a better offer, pledging to buy the company's shares for $20 a pop -- compared to the $17.50 price Hot Topic had agreed. As part of the deal, Hot Topic will receive a "termination fee," the value of which hasn't been disclosed

So, you think this deal will go through, or will SOMEBODY ELSE step forward and offer even more money? Because I just called ThinkGeek and told them I'd give them $25 a share for all their stock but when they asked what my name was I told them it was Jimmy Buffet and hung up. Just for the record though, I meant to say Warren Buffet but I got nervous.

Thanks to Stephanie A and johnny, who agree this whole thing has just been a roller coaster of emotions. I just want to get off so I can puke on solid ground.

  • Jordan Nass

    Ooof. Poor ThinkGeek. It's a bidding war between shit companies.

  • Dennis

    Smart for GameStop - but bad for everyone else. IF they treated their employees like people, instead of chess pieces and actually reward them for the 'upsells' and things of that nature, I'd be one step closer to thinking this would be a good idea.

    Match their lack of respect and care for their employees, treating them like criminals daily, (just short of a prison pat-down), and basically offering *crap* for customers games (newer ones aren't *horrible*, but come on...they can offer other incentives to make up for it....if they just used their heads - and they'd make more money to boot. Customers, employees and shareholders happy alike.

    Too bad they seem managed by people who are quickly becoming mental dinosaurs...

  • shashi

    its a boiler room scam

  • MustacheHam

    buhh...they be better off with Gama-Go as an affiliate than have company to rule all of the assets.

    I'm an honest jerk, but I feel this is rather silly.

  • Nathan Taylor

    Whoever wins, we lose.

  • KrisGifford

    Eh Jimmy Buffet has a ton of money too

  • Jenness

    I'm amazed GameStop could afford it - that place blows so hard. At least Hot Topic had the plus sized goth money going for it.

  • KeithMcD

    So your local GameStop is at 7160 Beverly Blvd, Los Angeles, CA 90036...

  • hc_willy

    Now to sit outside and ask if everyone is GW.

  • "So, you think this deal will go through, or will SOMEBODY ELSE step forward and offer even more money?"

    Honestly, who gives a fuck, these are all fucking horrible companies that should disappear into oblivion.

  • ShartInYourJacuzzi

    Why is thinkgeek a horrible company? I only ever ordered one thing from them, but it was a pretty hassle-free experience. Did I just get lucky?

  • Ed

    Was it a spatula with a lightsaber handle?

  • Hot Topic and Gamestop are horrible companies, I have no opinion on thinkgeek. Should have made that clear.

  • ODwanKenObi

    You sound like you were very wronged in your life by these companies. Anger leads to hate. Hate leads to suffering.

  • PUNX

    dodge the bullet of thinkgeek going goth.... and to the guy who said hottopic hasnt been goth since 2010 or so, i am guessing you havnt passed by on since then.

  • Gene Kaufman

    I avert my gaze every time I pass a hot topic so I wouldn't know...

  • Jason Christopher

    Smart move for Gamestop. Their stores will be gone in a matter of a few years, so it's good that they picked up something else.

  • I'm honestly surprised they've lasted this long. I called it back in the mid 2000's that they would be dead by 2012 at the latest, but never underestimate the power of the droning masses to support such a horrible company that exists only to screw the customer over.

  • Jason Christopher

    I stopped in to buy some extra storage for my XBOX 360 once. Just needed another 20 gigs or so for a few game files. They insisted that i HAD to buy the expensive, official, Microsoft XBOX hard drive. I pointed to a $5 USB thumbdrive on the wall and said "I'll just buy that". We actually argued about it for 5 minutes.They tried to convince me it wouldn't be compatible. I was furious. (of course, it was completely compatible and worked perfectly)

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