MTG has announced it has increased its investment in German game developer InnoGames once again, and has also formed a new holding company for its entire gaming business.
With this new increase, MTG now holds a 68% stake in InnoGames, and while the parties have cancelled MTG's option to purchase the remaining 32% of shares in the studio, it does have the option to purchase an additional 17% of InnoGames for €106 million.
Also as a part of this transaction, the companies have formed a new holding company, MTG Gaming AB, or GamingCo, which will hold all shares of InnoGames and Kongregate, as well as any future acquisitions.
MTG will hold 72% of the shares in GamingCo.
"We already have a successful long-term relationship with MTG, and we see great values in aligning even closer by building up a strong gaming group together with a clear focus on free-to-play casual and mid-core games," said Hendrik Klindworth, InnoGames CEO.