European retailer GAME has acquired its nearest High Street competitor Gamestation for GBP 74 million (EUR 108m). The market leader now adds Gamestation's 217 stores to its group, and intends to keep the branding of both outlets separate. "We are delighted to bring Gamestation into our portfolio and believe it has a strong future within the group," said GAME chairman Peter Lewis. "The Gamestation business is one we have long admired and is complementary to our existing business in terms of both store portfolio and target customers." "By investing in both brands we will further enhance the group's retail strategy while continuing to deliver and broaden our consumer reach. I am confident that this transaction will add considerable value to GAME and its shareholders over the coming years," added Lewis. GAME lists Gamestation's standing amongst the more hardcore gamer as a key reason for the acquisition, compared to GAME's more mainstream offering. GAME has unconditionally acquired the entire share capital of Gamestation for GBP 74 million, on a debt, cash and tax free basis. For the year ended December 31, Gamestation reported revenues of GBP 203.5 million (EUR 298.7m) and profit of GBP 2.1 million (EUR 3.08m). At least at the moment they plan to keep them both seperate. I wonder how long that will last though? I much prefer Gamestation to GAME though. Maybe its just my area, but the Gamestation staff always seem much more enthusiastic and know what they're talking about when it comes to the game your buying. Trade in prices are loads better at Gamestation too!