Hot Topic to buy Geeknet for $122 mln

Hot Topic Inc., a portfolio company of Sycamore Partners, said Tuesday it agreed to buy Geeknet Inc. for about $122 million or $17.50 a share. The deal includes $37 million of cash or cash equivalents. Fairfax, Virgina-based Geeknet is the parent of ThinkGeek and ThinkGeek Solutions, which distributes video game-themed merchandise like T-shirts and leggings through licensed web-stores for the gaming community. Guggenheim Securities advised Geeknet.

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