GameStop to Acquire Kongregate

Transaction expected to be finalized by early August
Posted July 27, 2010

GameStop Corp. (Grapevine, Texas) has entered into an agreement to acquire Kongregate Inc., a social gaming destination and community for core gamers representing the fast-growing free-to-play gaming market.

Kongregate, which hosts 10 million monthly players who spend approximately 23 million hours per month on its site, will operate as a wholly-owned subsidiary of GameStop Corp. Co-founders Jim and Emily Greer will continue to lead the company from its current San Francisco offices.

Kongregate’s digital platform allows consumers to discover free-to-play games that can be enjoyed via Internet-connected devices.

“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,” says J. Paul Raines, ceo, GameStop.

GameStop operates 6486 retail stores in 17 countries worldwide.