GameStop Buying Flash Games Site Kongregate

Retail giant GameStop has announced that it is to acquire Kongregate in an undisclosed deal expected to close on August 1. The popular browser-based gaming site will operate as a wholly-owned subsidiary, remaining in its current offices.

"Acquiring Kongregate strengthens GameStop's digital platform and its commitment to become the gaming aggregator of choice," according to the press release. GameStop CEO J. Paul Raines added that "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."

Kongregate co-founder Jim Greer, meanwhile, wrote that "Our community will only be enhanced with GameStop's close relationship with millions of passionate gamers."

The announcement boasts that Kongregate currently "hosts 10 million monthly players who spend approximately 23 million hours per month on the site."

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