Axel Springer AG has announced that it now holds a majority stake of online game provider Gamigo.

Its holding company AS Venture GmbH now controls 94.8 percent of the shares, with Gamigo’s CEO Sven Ossenbrüggen retaining the remaining 5.2 percent.

“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. “Due to that online gaming is to become an important pillar within the digitization offensive of Axel Springer.”