MTG completes acquisition of Kongregate

July 24 2017

MTG has completed the previously announced acquisition of 100% of US games publisher and developer Kongregate Inc. for an Enterprise Value of USD 55 million.

Jørgen Madsen Lindemann, MTG President and CEO: “Consumers now spend almost a third of their mobile device time playing games, and Kongregate is a great fit with our strategy to invest in relevant, complementary and scalable digital content and communities. Kongregate significantly strengthens our online gaming vertical and gives us a presence in both the European and US markets. We’re excited to complete this acquisition and to welcome the very talented Kongregate team to the MTG family.”

Kongregate’s results will be fully consolidated from 1 August and included in the MTGx business segment. MTG’s Q3 results will only include Kongregate’s results for August due to the time lag while reporting systems are integrated.

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NOTES TO EDITORS

MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).

Contact us:
press@mtg.com (or Jessica Sjöberg, VP Corporate Communications; +46 76 494 09 13)
investors@mtg.com (or Stefan Lycke, Head of Investor Relations; +46 73 699 27 14)

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