Axel Springer Announces Sale of Online Gaming Unit Gamigo

German media giant Axel Springer said on Friday it had agreed to sell its online gaming unit Gamigo in a move to focus on core digital activities.

"Axel Springer is continuing to focus on core competences in its digital business -- content portals, marketing and classifieds portals. In this context, Axel Springer is selling Gamigo AG to Samarion, a strategic investor in online gaming," the group said in a statement.

The price and terms of the deal were not disclosed.

Springer described Gamigo as one of the leading German publishers and operators of online games in the MMOG (Massively Multiplayer Online Games) segment, which is a multiplayer video game capable of supporting hundreds or thousands of players simultaneously.