Monumental Will Acquire Kongregate

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News/Monumental Will Acquire Kongregate







Monumental Will Acquire Kongregate
Monumental Will Acquire Kongregate

Mergers and Acquisitions

13 February 2024 12:10

Monumental, an Austin-based developer, has announced its acquisition of gaming publisher and web portal Kongregate. The details of the acquisition, including the sum involved, remain undisclosed. The Modern Times Group (MTG) acquired Kongregate in 2017 for $55m. Despite the acquisition, MTG will retain a 30% stake in the company. The agreement will lead to a full merger of the two companies, with Monumental CEO Monty Kerr assuming leadership of both entities. The merger will integrate the extensive portfolios of both studios, totaling over 40 games.

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Dante Uzel
Esports & Gaming Journalist
Dante Uzel is an esports and gaming news journalist with eight years covering the industry. His work has appeared in publications including Game Life and The Game Post, and he currently reports for TwogNews and TwogPedia.