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News Update: GameStop to acquire Kongregate
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GameStop has entered into an agreement to acquire Kongregate Inc., a leading social gaming destination and community for core gamers representing the fast-growing free-to-play gaming market. Currently the site hosts 10 million monthly players who spend approximately 23 million hours per month on the site. Kongregate will operate as a wholly-owned subsidiary of GameStop Corp. and maintain its current offices in San Francisco, Calif. The transaction is expected to close on or about August 1, subject to customary closing conditions, with the company remaining under the leadership of its co-founders, Jim and Emily Greer.
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