MTG increases Ownership in Online Games Developer InnoGames
MTG has increased its ownership in InnoGames, the developer of browser and mobile games, to 51%. MTG announced its initial 21% investment in Hamburg-based InnoGames in October 2016. InnoGames is the creator of six successful online games including Forge of Empires, Tribal Wars and Elvenar. MTG has invested EUR 82.6 million for the additional shares, based on the same enterprise value of EUR 260 million for 100% of the business as for the original investment. MTG will fully consolidate InnoGames with effect from May 1.