Cambridge games company Jagex acquired by Macarthur Fortune Holding for $530million
Jagex, the Cambridge games company, has been acquired by Macarthur Fortune Holding LLC for $530million.
The US-based global asset management company purchased the company through one of its funds, Platinum Fortune LP.
Jagex was previously owned by Shanghai Hongtou Network Technology, part of Chinese games firm Fukong Interactive Entertainment.
Hongtou Network (Hong Kong) was also acquired by Platinum Fortune LP.
Jagex’s management team will remain in place, headquartered on Cambridge Science Park, where it employs more than 400 people.
Phil Mansell, CEO of Jagex, said: “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.”
Shanghai Fukong bought Jagex in 2016, but announced its intention to sell part or all of its stake in the company at the start of 2019.
Jagex is one of the UK’s largest video game developers and publishers, known for its flagship game franchise Runescape, the world’s biggest massively multiplayer online role playing game, with more than 280 million player accounts created and more than $1billion in revenue generated in its lifetime.
As a fund, Platinum Fortune is focused on the global video game market, which is expected to generate $148.8bn in 2019 and grow by more than nine per cent by 2022, according to Newzoo.
Jagex won Games Company of the Year at the 2019 Cambridge Independent Science and Technology Awards after making Runescape and Old School Runescape playable on mobiles.