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Video game retailerGameStop (GME) is moving quickly to diversify into the pop-culture collectibles market as concerns swirl that the shift to digital game sales will harm its core business. Grapevine, Texas-based GameStop on Tuesday announced plans to buy Geeknet (GKNT), the parent of ThinkGeek, which sells fun merchandise related to technology, video games and science-fiction and fantasy movies and TV shows. GameStop has agreed to pay $20 a share in cash for Geeknet in a deal valued at $140 million. Last month, Geeknet accepted a $122 million purchase offer from retailer Hot Topic. But GameStop stepped in with a richer bid. Geeknet will pay Hot Topic an undisclosed termination fee, for which GameStop has agreed to reimburse Geeknet. “The addition of Geeknet is an important expansion of our global multichannel platform, and we are excited to leverage their product development expertise to broaden our… Scalper1 News
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