Modern Times Group (MTG) have purchased U.S. game publisher Kongregate and is still awaiting regulatory approval. MTG is the parent company of DreamHack and ESL.
Kongregate is currently owned by GameStop and agreed to sell the publisher to MTG for $55 million. Jørgen Madsen Lindemann, MTG president and CEO, released the following statement..
“This investment is in line with our strategy to invest in relevant, complementary, and scalable digital content and communities. Online gaming is one of our three digital entertainment verticals, and we are establishing a presence in a gaming industry expected to be worth some $130 billion in 2020, of which mobile gaming is the fastest growing segment.”