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Hot Topic buying online retailer Geeknet for $122 million
Los Angeles -- Specialty teen retailer Hot Topic is acquiring Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, for approximately $122 million, which is more than double the company’s market value.
ThinkGeek sells a wide range of merchandise, including clothing, toys, and gadgets mostly based on popular movies, television shows and brands that have strong "geek" appeal, such as "Star Trek," ''The Big Bang Theory," and ''Star Wars."
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Hot Topic pays 122% premium to acquire Geeknet
Declining sales and mounting losses at online retailer Geeknet weren’t enough to deter Hot Topic from paying a steep price to acquire the retailer of products designed to appeal to the geek in everyone.
Los Angeles-based Hot Topic, operator of 650 specialty stores, entered into an agreement with Fairfax, Va.-based Geeknet to acquire the company for $17.50 a share, a 122% premium above Geeknet’s closing share price of $7.90 on Friday, May 22.

