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Gamestop Buys Out Electronics Boutique

19th April 2005, 12:40pm
Soon, EB Games will be no more. For a cool $1.44 billion, Gamestop will take control of all the EB stores internationally and rename them.

"This is an exciting transaction for everyone involved. Our customers, our shareholders, and our two companies, which is a very positive step for GameStop, will enable us to enter new international markets and allow us to compete more effectively in the highly competitive U.S. video game industry." said R. Richard Fontaine, GameStop's Chairman and Chief Executive Officer.

Both Fontaine, and his Vice Chairman and Chief Operating Officer, Daniel A. DeMatteo will retain their postions in the company.
by Nick Schaedel