GameStop Corp. has announced that it has acquired Kongregate Inc. The social gaming portal currently has 10 million monthly players who spend roughly 23 million hours per month on the site.
“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 J. Paul Raines, Chief Executive Officer of GameStop. “We welcome the Kongregate team to the GameStop family.”
“Combining Kongregate’s expansive catalogue of games with our well known consumer brand, powerful marketing and strong customer relationships, means that even more gamers will be able to enjoy their games anytime, anywhere and on any device,” added GameStop President Tony Bartel.
The acquisition of Kongregate is expected to close on August 1, 2010 for undisclosed terms. Jim and Emily Greer will remain in leadership positions in the new entity, with this new alliance expected to help consumers discover more free-to-play games.
“To date, our company’s unique DNA has given more than 8,500 game developers the tools to make their games social, reach a huge audience and make money from over 30,000 innovative games,” said Kongregate co-founder Jim Greer. “This includes access to virtual currency and robust community features such as leaderboards, player achievements, profiles, multiplayer, dedicated game forums, and a site-wide leveling system. Our community will only be enhanced with GameStop’s close relationship with millions of passionate gamers.”