The Daily Telegraph reports that the deal will ensure the safety of most of its remaining 333 stores, but it is unknown how many of the company's 2,814 employees will keep their jobs.
The group entered administration last week after having failed to find a buyer, despite reports that the RBS were mounting a bid. 277 shops were immediately closed and 2,000 jobs were lost. The company is now £85m in debt.
OpCapita are known to specialise in investing in and turning around troubled retailers - last year they purchased Comet for the price of £2.
The price paid by OpCapita in this instance is unknown, although it is thought likely to have been a nominal amount of £1.
A deal to save the group's international arms has apparently not been reached, but potential bidders include Hilco and GameStop.
GAME and Gamestation's websites were reactivated yesterday ahead of a possible takeover bid.
It is thought that final negotiations are being completed tonight (Saturday 31) and that a deal may be announced as early as Sunday morning.