James Lee
11:00 (BST)
04/09/2008
Axel Springer buys out Gamigo
Axel Springer AG has announced that it taken over a majority stake of the MMO provider Gamigo.
The company acquired 94.8 per cent of the company's shares through its holding company AS Venture GmbH. AS Venture took over the shares of bmp Media Investors, leaving the last 5.2 per cent to be held by Gamigo’s CEO Sven Ossenbrüggen.
"Gamigo operates in a fast growing market segment, it will quadruple sales this year and it is profitable," said Dr Jens Müffelmann, director of the Corporate Division Electronic Media of Axel Springer AG. "Due to that online gaming is to become an important pillar within the digitization offensive of Axel Springer."
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