MTG Completes Kongregate Acquisition

MTG has completed its acquisition of the U.S. games publisher and developer Kongregate for $55 million.

Kongregate’s results will be fully consolidated from August 1 and included in the MTGx business segment. MTG’s Q3 results will only include Kongregate’s results for August, due to the time lag while reporting systems are integrated.

Jørgen Madsen Lindemann, MTG’s president and CEO, said: “Consumers now spend almost a third of their mobile device time playing games, and Kongregate is a great fit with our strategy to invest in relevant, complementary and scalable digital content and communities. Kongregate significantly strengthens our online gaming vertical and gives us a presence in both the European and U.S. markets. We’re excited to complete this acquisition and to welcome the very talented Kongregate team to the MTG family.”