MTG-owned Kongregate expands blockchain capabilities through production studio acquisition
STOCKHOLM — Modern Times Group MTG AB (publ) (“MTG”) today announced that its blockchain-focused portfolio company Kongregate is expanding through the acquisition of Chilean development studio Gamaga. The deal internalizes the close working relationship between the two companies, as Gamaga has been supporting Kongregate in various blockchain gaming initiatives since 2021. The acquisition values Gamaga at between USD$ 5 and 7 million.Gamaga is a work-for-hire mobile gaming developer based in Santiago, Chile, with a team of approximately 40 people. They have an experienced development team