GameStop buys 507 AT&T wireless stores in diversification effort

In an attempt to diversify its revenue streams, GameStop Corp. has acquired 507 A&T wireless stores in 26 states, mostly located in Missouri, Oklahoma and Texas.

The additions bring GameStop’s AT&T store count to 1,421. Mobile and consumer electronics accounted for 9.8 percent of company revenue during the first quarter.

Declining to disclose the exact purchase price, CEO Julian Raines expected GameStop’s wireless retail operations to produce between $85 million and $100 million in profits this year, according to Bloomberg Business.

Read more from Bloomberg Business.