Video game retail chain GameStop has won the bidding war for GeekNet, parent of ThinkGeek.com, the companies announced today.  GameStop had come in with a $140 million offer, topping Hot Topic’s $122 million offer, late last week (see "Bidding War for Geek Retailer").  Since GeekNet had previously agreed to be acquired by Hot Topic, it will have to pay a $3+ million break-up fee to Hot Topic, which will be covered by GameStop.  The acquisition is expected to close by the end of July.

This gives GameStop, which has annual sales of over $9 billion annually through over 6,600 stores in 14 countries, a footprint in online geek merchandise retailing, and in a businesss less likely to be disrupted by the move of video game sales online.