MTG increases ownership in InnoGames and partners with company founders to form new holding company for gaming investments
STOCKHOLM, December 7th 2020 – Modern Times Group MTG AB (publ) (“MTG”) has acquired an additional 17% of the shares in leading German games developer and publisher InnoGames GmbH (“InnoGames”) bringing its ownership in the company up to 68%. The transaction also involves the establishment of a new holding company for MTG’s entire gaming business, also including Kongregate. This represents an important step towards creating a stronger gaming vertical that will be able to fully realize synergies, values and strategic opportunities going forward.MTG announced its initial 21% investment in