Monumental Will Acquire Kongregate

Mergers and Acquisitions

13 February 2024 12:10

Monumental, an Austin-based developer, has announced its acquisition of gaming publisher and web portal Kongregate. The details of the acquisition, including the sum involved, remain undisclosed. The Modern Times Group (MTG) acquired Kongregate in 2017 for $55m. Despite the acquisition, MTG will retain a 30% stake in the company. The agreement will lead to a full merger of the two companies, with Monumental CEO Monty Kerr assuming leadership of both entities. The merger will integrate the extensive portfolios of both studios, totaling over 40 games.

Tags: Monumental MTG

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Monumental Will Acquire Kongregate

Mergers and Acquisitions

13 February 2024 12:10

Tags: Monumental MTG

Monumental, an Austin-based developer, has announced its acquisition of gaming publisher and web portal Kongregate. The details of the acquisition, including the sum involved, remain undisclosed. The Modern Times Group (MTG) acquired Kongregate in 2017 for $55m. Despite the acquisition, MTG will retain a 30% stake in the company. The agreement will lead to a full merger of the two companies, with Monumental CEO Monty Kerr assuming leadership of both entities. The merger will integrate the extensive portfolios of both studios, totaling over 40 games.

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