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Forums > Computer Market News > RuneScape Developer Jagex Confirms That They’ve Been Acquired By US Platinum Fortune

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Subject : RuneScape Developer Jagex Confirms That They’ve Been Acquired By US Platinum Fortune
jagex officeIn January last year, Fukong Shanghai, the owner of RuneScape developer Jagex, announced their plans to sell the studio as the Chinese company struggled to survive against the gaming bans in China. In July of the same year, Fukong revealed that it was selling Jagex to the private equity investment firm US Platinum Fortune for $530 million. Jagex, however, issued their own statement denying that they’ve been sold and that the decision hasn’t been finalized yet.

Actual confirmation of the sale comes today in the form of an official press release:

“Macarthur Fortune Holding LLC, a global asset management company, has announced that it has acquired Jagex, one of the UK’s largest video game developers and publishers, for $530million through one of its funds, Platinum Fortune LP, from Shanghai Hongtou Network Technology. Hongtou Network (Hong Kong) was also acquired by Platinum Fortune LP. The management team of Jagex, headquartered in Cambridge, UK, will remain in place.”

“The combined strength of Macarthur Fortune and Jagex will both support and enhance our strategic plan to deliver great gaming experiences to our communities of RuneScape players and build on our portfolio with more living games for a global audience,” says Jagex CEO Phil Mansell.

Macarthur Fortune says they share the long-standing studio’s passion for games and that they will be strategically investing in marketing and research and development to attract new players to the RuneScape franchise.

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Posted on July, 30 2020 08:31:38 AM

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