Monumental Acquires Kongregate, Marking Its Second Studio Acquisition in a Year

Monumental :

AUSTIN, Texas – February 14, 2024 – Monumental, a rapidly growing indie game developer and publisher, has announced its acquisition of Kongregate, a renowned name in the gaming industry known for the Kongregate.com web gaming portal and mobile titles, including Animation Throwdown, Bit Heroes, and Where’s My Water 2. This acquisition marks Monumental's second major move in expanding its gaming portfolio within a year, following the acquisition of Game Circus, the Dallas-based game developer and publisher behind the wildly popular Coin Dozer, Merge Zoo, and Taps to Riches mobile game franchises.
 
Formed in 2020, Monumental has quickly made a name for itself in the gaming industry, managing a robust portfolio of games. The addition of Kongregate to its fold enriches Monumental's offerings, creating a powerhouse in the indie gaming sector.
 
Monumental has carved a niche as a veteran gaming team that deeply understands and is passionate about games. Monty Kerr, Chief Executive Officer of Monumental, said: “We could not be more excited to add this amazing team of game makers to our growing family. Combining the strengths of Monumental and Kongregate promises an incredibly exciting future.”
 
Kongregate was acquired by Monumental from Modern Times Group (MTG), which bought the game developer and publisher in 2017. MTG has expressed confidence in Monumental's ability to work with Kongregate to deepen and enrich their combined games portfolio.
 
Maria Redin, President and CEO of Modern Times Group, commented, “Monumental has a strong track record of driving growth in its games portfolio. We are happy that Kongregate is joining Monumental for the next stage of their journey and are convinced that Monumental is the right home for them. We wish all teams involved the best as they begin their work together.”
 
Donnie Thompson, Chief Executive Officer of Game Circus, said: “We've been very pleased with our partnership with Monty and his very talented team at Monumental. Together we believe we can take our games to new heights and look forward to collaborating to delight our players in new ways.”
 
With the integration of Kongregate, Monumental is poised to leverage the extensive experience in traditional and mobile gaming that the Kongregate team brings. CEO Monty Kerr will oversee the combined company, promising a future where both Monumental and Kongregate can thrive under a unified vision.
 
The acquisition of Kongregate follows Monumental's successful integration of Game Circus, underscoring Monumental's commitment to growth and excellence in the gaming industry.
 
The successful acquisition of Kongregate was supported by a team of expert advisors. Monumental enlisted the legal expertise of Baker McKenzie. Aream & Co provided financial advisory services, while Baker Bots offered legal counsel to Modern Times Group (MTG). Additionally, Drake Star acted as the exclusive financial advisor to Game Circus.
 
About Monumental, LLC
Monumental is an independent game development studio based in Austin, Texas founded in 2020. With a passion for gaming and a veteran team, Monumental operates a growing gaming portfolio of unique games and gaming franchises. For more information, contact [email protected].
 
About MTG
MTG (Modern Times Group MTG AB (publ)) (www.mtg.com) is an international mobile gaming group that owns and operates gaming studios with popular global IPs across a wide range of casual and mid-core genres. The group is focused on accelerating portfolio company growth and supporting founders and entrepreneurs. MTG is an active driver of gaming industry consolidation and a strategic acquirer of gaming companies around the world. We are born in Sweden but have an international culture and global footprint. Our shares are listed on Nasdaq Stockholm under the tickers MTGA and MTGB.
 
About Game Circus
Founded in 2010, Game Circus is a company striving to create the best casual mobile games, including the market-leading Coin Dozer, Merge Zoo, Prize Claw and Taps to Riches. With hundreds of millions of players worldwide, we take pride in delivering some of the world's most popular mobile games!