Via arstechnica.com:

Online geek-y retailer ThinkGeek and its parent company Geeknet Inc. are in the process of being acquired by Hot Topic, a popular mall-based retailer best known for selling vampire T-shirts and other faux-goth-pop accoutrements. According to a press release issued this morning, Hot Topic will be picking up all of Geeknet’s outstanding shares of common stock for $17.50 per share, and the company will also be fronting about $37 million in cash. The total value of the transaction will be $122 million.

Geeknet CEO Kathryn McCarthy said in the press release that the move would enable Geeknet and ThinkGeek to bring its products to the attention of new consumers, as well as to “expand [its] product offerings to keep up with industry and customer demands.”

Geeknet’s shareholders appear to be onboard with the purchase, with the press release noting that a contingent of shareholders holding about 21 percent of the company’s common stock have agreed to go along with the offer.

The sale is expected to happen by June 19 of this year.