So here’s a thing that’s happening: Hot Topic just acquired every nerd’s favorite online store, ThinkGeek. Um, what the frigging what?!
According to RTTNews:
Geeknet, Inc. (GKNT), the parent company of online retailers ThinkGeek and ThinkGeek Solutions, Tuesday said it would be acquired by Hot Topic, Inc., a mall and web-based specialty retailer and a portfolio company of private equity firm Sycamore Partners, for $17.50 per share.
The acquisition, which has a total equity value of about $122 million, will be completed by means of a tender offer to be commenced shortly.
Maybe it’s just me, but I still look at Hot Topic as one of those places only high school mall rats with too much money (or no money) go to pass the time while considering that this is the day to go full-on goth. I should know…I was one of the poor kids who took a mental inventory so I could later convince my parents to buy me those super cool, baggy black pants with the belts hanging from it. I can’t explain my fashion sense anymore than you when you were in high school.
True, Hot Topic was also the one place a kid could readily buy a T-shirt featuring their favorite video game, anime, pop culture reference, or superhero. They’ve certainly expanded their nerd-rific selection since partnering with Her Universe a few years ago. Logistically, I can only see this as a plus; however, I really hope this doesn’t mean we’ll be losing all the cool stuff ThinkGeek has now.