According to a recent report, GameStop is slated to buy Kongregate, which is a social gaming site situated in San Francisco. GameStop is a renowned video game retailer.

However, no information was given regarding the amount of the contract. The acquisition was confirmed by the press release of the corporate unit of the retailer, which said that it would be complete by August 1.

In Kongregate’s bog, the CEO and Co-Founder, Jim Greer, disclosed that they had got numerous offers. However, he said that they selected GameStop because of its understanding of their work.

Greer assured the users that the main operations of the site would be the same. He said that the site will still offer games free of cost and would also continue to invite independent developers.

Greer is of the view that becoming a part of the larger Company would be instrumental in developing its resources.

Kongregate boasts of 10 million players on a monthly basis. These users play flash games on the site and also network with other players.

For a while, GameStop’s website is making attempts to foray into the gaming world. Michael Pachter, an Analyst at Wedbush Morgan, is of the view that the acquisition would accelerate its makeover into a gaming platform.