Grapevine, Texas – Video game retail store chain GameStop
announced on Tuesday that it will acquire online game publisher Kongregate.
Financial terms of the transaction were not disclosed.
Founded in 2007, San
Francisco-based Kongregate currently offers more than 30,000 free-to-play social
games, which attract 10 million monthly players who spend a collective 23
million hours per month on the site.
The company shares revenue from ads and
virtual goods with over 8,500 developers who have uploaded games to the site.
Kongregate
has received funding from backers including Greylock Partners, Bezos
Expeditions and Reid Hoffman.
"Kongregate advances GameStop’s digital
strategy by providing a gaming platform for casual, mobile and browser games
that can be promoted and played by our existing gamers," said GameStop CEO
J. Paul Raines.
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