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RuneScape Studio Jagex Acquired, Management to Stay In Place

Acquired by Macarthur Fortune Holding LLC

Poorna Shankar Posted:
Category:
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The studio behind RuneScape, Jagex, has been acquired by Macarthur Fortune Holding LLC.

The announcement includes details of the purchase which was donefor $530 million via the Platinum Fortune LP which itself is from Shanghai Hongtou Network Technology. The statement notes that any management at Jagex will stay the same.

The CEO of Jagex, Phil Mansell, provided a statement on the acquisition, citing their strategic plan to continue delivering great gaming experiences,

"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.”

This news follows previous rumors of Jagex denying its acquisition as recently as October 2019. Back then, Director of Communication Rich Eddy had told GameIndustry.biz,

“As referenced in June, Fukong's regulatory statements acknowledged that the company was looking to restructure its finances, and that resulted in announcements regarding the potential sale of Jagex.”

He continued,

"While the situation continues to progress, Fukong's most recent statements advise the Chinese market that it has updated its financial information as negotiations continue. This is not a confirmation of a sale, which remains one of various possible outcomes.


ShankTheTank

Poorna Shankar

A highly opinionated avid PC gamer, Poorna blindly panics with his friends in various multiplayer games, much to the detriment of his team. Constantly questioning industry practices and a passion for technological progress drive his love for the video game industry. He pulls no punches and tells it like he sees it. He runs a podcast, Gaming The Industry, with fellow writer, Joseph Bradford, discussing industry practices and their effects on consumers.