Jagex has been sold to a Chinese company for $300M

Jagex has a new master today.

According to The Financial Times, Shandong Hongda, a company known primarily for its iron ore mining operations, has apparently purchased British games company Jagex for $300 million.

Jagex is known best to MMORPG players for its staggeringly popular MMO RuneScape.

We’ve reached out to Jagex for more information.

Source: The Financial Times, Deal Street Asia. Thanks, Daras!
Update: Jagex issued the following statement to Massively OP:

“Jagex has entered into a non-exclusive, non-binding arrangement for a potential acquisition. The negotiations surrounding the acquisition are ongoing and it remains very much business as usual for the Company.”

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65 Comments on "Jagex has been sold to a Chinese company for $300M"

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emaglaw
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emaglaw

It is a sign of the times. For me, it represents content control by a country that has virtually (no pun) invented cheat codes and content restriction. They still are the largest Communist Country. CNN Jamie Gumbrecht, published an article/report entitled “Boot Camp for The Video Addicted”, April 26, 2016, http://www.cnn.com/2016/04/26/health/cnnphotos-internet-addiction-china-boot-camp/
In that report, the author identifies that the Chinese are placing individuals in centers for mandatory education to cure their video addiction. From 8 years to 30, folks are being locked up for gaming addiction. The reporter omits that this is done without a warrant or hearing.
I say that to say this, the Chinese Government is not our friend.

alaskangoldrush
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alaskangoldrush

The Chinese are buying up game companies for a couple reasons.  First and foremost, it’s to gather information on the people who use it.  Make no mistake, a Communist society works for the government.  Your information will be moved into the great database in the sky.  The Chinese have hacked OPM’s Clearances Database in the US, the Insurance Companies, and so many others. Why?  No clue.  Perhaps they are content with the idea of eventually destroying the global economy that they are also tied in to.  Or perhaps they want that as a “nuclear” option.

Secondly, it’s to make money.

Union Jack
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Union Jack

Looks like we will get some cheap ore then maybe…

Public123
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Public123

Please bring back revision 429 ( August 23, 2006 ) runescape..or whichever revision that the stronghold of security (July 4 2006 ) first came out. Then transfer all gold , stats, items to it. Osrs ( ‘oldschool runescape’ ) isn’t ‘old school’ and many players were disappointed that jagex didn’t come out with the true old school experience…but rather the ‘new school experience.’ If they can do this, they will have corrected this wrong by jagex, and many new players would play again, thus making more money than they currently are. The current ‘osrs’ just doesnt appeal to me as its not old school, but based on a time where I was going to quit because of the updates. Many other players feel the same way. They can then later add the missing skill that the current ‘osrs’ has , hunter..so that players don’t miss out on it. Thanks for reading! =)

FornaForZeTree
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FornaForZeTree

SorenthazSo what you’re saying is…They paid the iron price?

mmonerd
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mmonerd

korsobar Well written.  I would like add another interesting information that will give an idea how overproduction situation in China.   Price of single Iron ore is cheaper than cabbage. Yes Cabbage is more expensive than iron ore.

Grave Knight
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Grave Knight

Weird that how many non-tech Chinese companies are buying game studios.

Murmillo
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Murmillo

Noooooooooooooooooooooooooooooooooooooooo (*Takes deep breath) ooooooooooooooooooooooooooooooooooooo

nathanc1099
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nathanc1099

Just in. Plastic swords will now be the best in the game.

Ket_Viliano
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Ket_Viliano

korsobar  Macro Econ 101 FTW!