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MTG buys GameStop’s mobile game publisher Kongregate for $55 million

  • Posted byby Dean Takahashi
  • Updated
  • 2 min

Swedish entertainment company Modern Times Group (MTG) has acquired GameStop’s Kongregate for an enterprise value of $55 million, the two announced today.

The deal is a big shift for Kongregate, which recently surpassed 100 million downloads for its mobile games such as AdVenture Capitalist and Animation Throwdown: The Quest for Cards.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.