MTG’s Kongregate acquires Bit Heroes
July 19, 2019
Modern Times Group (MTG) portfolio company Kongregate – a cross-platform game publisher and web gaming destination – has confirmed the acquisition of Bit Heroes, a successful indie mobile and web role playing game (RPG) from American Reno-based developer Juppiomenz.
The hit game has amassed $10 million in net revenue and attracted over 14 million game plays since launched in September 2016.
“Bit Heroes has potential, and we look forward to see Kongregate bring the game to massive new audiences in Asia. As owners of Kongregate we’re proud to see yet another strong example of their proven and established acquisition model; prove out an innovative game concept on web or PC, scale the game through direct publishing, then reward the game creators with an investment or, in this case, an acquisition,” said Jørgen Madsen Lindemann, President and CEO at MTG.
“Juppiomenz is a great indie developer success story, and Bit Heroes has been a star in our publishing portfolio. We’re thrilled to take on and expand the Bit Heroes franchise,” added Josh Larson, Chief Business Officer at Kongregate.