Will purchase Micromania for $700 million
Last modified on Thursday, 02 October 2008 11:45
GameStop is growing again. This time they are going to buy the French video game retailer, Micromania, for $700 million in cash plus the assumption of debt. The deal will expand the GameStop brand again and boost the retailer’s store count for near 6,000 total units.
This will give GameStop over almost 1,100 stores in Europe. GameStop expects the deal to close in November and they will pay for the majority of the purchase in cash. Reports are suggesting that Micromania director, Pierre Cuilleret, will continue running the GameStop operations in Europe.
The company has not announced is transition plan to move from the Micromania name over to the GameStop name, but it is likely the company will move to transition quickly as the total number of units affected is not that many.
GameStop continues to grow and the company continues to strengthen their influence and grip on developers and distributors. While the company does sell used titles, they also have become one of the largest sales forces for both console hardware and software.