EB Games (previously referred to as Electronics Boutique and EB World) is an American laptop and video video games retailer. First established as an American firm in 1977 by James Kim with a single electronics-centered location within the King of Prussia Mall close to Philadelphia, the corporate has grown into a global company. EB Video games’s mum or dad company, GameStop, has its headquarters in Grapevine, Texas, a suburb of Dallas. When Electronics Boutique was an unbiased firm, its headquarters was in West Goshen Township, Pennsylvania, close to West Chester.
On Thursday, October 6, 2005 shareholders from EB Games and GameStop agreed to a $1.forty four billion takeover deal. The deal supplied $38.15 in money in addition to roughly ¾ of a share of GameStop inventory for each 1 share of EB Video games inventory. This provide was a 34.2% premium on the $forty one.12 per share closing worth of EB Video games inventory. GameStop determined to shut EB Video games’ newly constructed distribution heart in Sadsbury, PA, their name heart in Las Vegas, NV, and their Worldwide Headquarters in West Chester, PA, eliminating greater than 800 jobs. Solely sixty five former EB Video games workers have been provided jobs at GameStop’s headquarters in Grapevine, TX.
EB started its worldwide enlargement with the opening of three shops in Toronto, Canada in 1993. The Canadian division is the most important of the worldwide divisions with 300+ shops as of Could 2008.
In 1995, the corporate expanded to the UK with the acquisition of financially troubled British sport retailer Rhino Group. The identify of the chain was modified from Future Zone to “Electronics Boutique” to match the brand new proprietor. Retailer remodels, product combine modifications and used video video games mixed to revive the chain’s funds.
Electronics Boutique commenced operations in Australia in 1997 and quickly grew to become the primary online game specialty retailer within the nation and the one one with a nationwide footprint.
Though the EB-GAME “merger” created an organization separate from the U.S. mum or dad, EB retained a 24% possession stake within the merged chain for a time period and, underneath the merger settlement, collected substantial administration charges from it till 2004, when the businesses agreed to sever the rest of their ties with a one time settlement. The GAME model changed the EB identify in any respect former EB shops in the UK and Eire. The brand new firm was the largest online game retailer in the UK. Nevertheless, GameStop is as soon as once more working in Eire underneath the GameStop model.
On Could 23, 2005, EB Video games introduced a definitive settlement to amass Bounce, a retailer primarily based in Valencia, Spain that sells PCs and different shopper electronics. EB Video games plans to start introducing online game hardware and software program into Leap’s 141 shops over the following a number of months. The acquisition offers EB Video games entry into the Spanish market and continues EB Video games’s aggressive worldwide growth.
On June 22, 2008, reviews surfaced that EB Video games in New Zealand would purchase The Gamesman – New Zealand’s largest independently owned and operated specialised gaming retailer. All Gamesman shops are to be rebranded as EB Video games shops, leaving no multi-centre specialist gaming shops in New Zealand.