July 28, 2010 – – Video game retailer GameStop Corp. has acquired free-to-play gaming site Kongregate. The transaction is expected to close on or about Aug. 1, 2010, subject to customary closing conditions, with the company remaining under the leadership of its co-founders, Jim and Emily Greer.
Kongregate attracts more than 10 million gamers a month who spend 23 million hours playing the free Flash and web-based games the site offers. The company will operate as a wholly-owned subsidiary of GameStop and maintain its current offices in San Francisco.
J. Paul Raines, Chief Executive Officer of GameStop, said, “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. We welcome the Kongregate team to the GameStop family.”
Jim Greer said his company 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.”
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