Geeknet Sells Slashdot, SourceForge, Freecode

Geeknet (GKNT) announced that Dice Holdings (DHX) has "acquired Geeknet's online media business, including Slashdot and SourceForge. Dice Holdings acquired the business for $20 million in cash." This works out to ~$3.09 per GKNT share. The online business accounted for about 16% of Geeknet's revenues.

From Geeknet's press release.

Ken Langone, Chairman of Geeknet, added, "We are very pleased to find a new home for our media business, providing a platform for the sites and our media teams to thrive. With this transaction completed, we will now focus our full attention on growing ThinkGeek."

GKNT closed yesterday (02012.09.17) at $18.46. 52-week range: $12.07 - $21.62.

[update::02012.09.18] GKNT closed at $19.09, up 3.4% for the day. Volume as just slightly above average.