MOUNTAIN VIEW, Calif., May 13, 2010 (GLOBE NEWSWIRE) -- Geeknet, Inc. (Nasdaq:LNUX), the online network for the global geek community, today announced the acquisition of Geek.com, an online information resource and community for technology enthusiasts and professionals. The deal closed yesterday at a purchase price of $1 million dollars.

"Geek.com is an important addition to the Geeknet network of owned and operated web sites. It expands our overall traffic and provides us with an excellent platform to accelerate our penetration of mainstream consumer advertising categories," said Scott L. Kauffman, President and CEO of Geeknet. "We are laser focused on growing our media business. Adding Geek.com to our network is yet another indication of our commitment to serve the global geek community and deliver this coveted audience to Madison Avenue."

Geek.com, founded in 1996, features the latest news and reviews of the hottest hardware, software and games, along with computer buying guides and forums. Topic areas on the site include: Apple, Gadgets, Games, Mobile, and Chips. Geek.com's Forums and news items are open to postings from all readers. The majority of Geek.com's audience is comprised of U.S. based technology enthusiasts. The site also has reach into major international markets including: Great Britain, Canada, Australia, India, Germany, France and Brazil.

ABOUT GEEKNET

Geeknet is the online network for the global geek community. Our owned and operated sites include SourceForge, Slashdot, ThinkGeek, Geek.com, Ohloh and freshmeat. We serve an audience of over 45 million users* each month and provide the tech-obsessed with content, culture, connections, commerce, and all the things that geeks crave. Want to learn more? Check out geek.net.

(*April 2010 Unique Visitors 45.7M. Source: Google Analytics and Omniture) Geeknet, SourceForge, Slashdot, ThinkGeek, Geek.com, Ohloh and freshmeat are trademarks of Geeknet, Inc. All other trademarks or product names are the property of their respective owners.

The Geeknet, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7330

NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, and involve risks and uncertainties. Forward-looking statements contained herein include statements regarding the acquisition of a new asset and our ability to increase advertising revenue from such asset. Actual results may differ materially from those expressed or implied in such forward-looking statements due to various factors, including our ability to integrate the new asset into our current operations, attract new users and increase advertising revenue from our assets, and the risk factors identified in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2010. These documents are available at the Securities Exchange Commission website: www.sec.gov. All forward looking statements included in this press release are based upon information available to us as of the date hereof, and we do not assume any obligations to update such statements or the reasons why actual results could differ materially from those projected in such statements.