RuneScape studio Jagex finally confirms it was sold for $530M to a new ‘global asset management company’

    
7

Over the course of 2019, we covered the news that RuneScape developer Jagex was being put up for sale by the Chinese holding company that purchased it back in 2016, largely a result of Shanghai Fukong’s struggles to stay afloat through the gaming freeze in China. Jagex and RuneScape seemed fine. Then, at the end of June, Fukong announced that it would be selling Jagex to “US Platinum Fortune,” valuing it at $530M US ($230M more than it paid back in 2016). But a few weeks later, Jagex bizarrely denied it had been sold, saying that sale was merely “one of various possible outcomes.”

In any case, it appears both the company name and the purchase price Fukong announced were exactly correct all along, as now Jagex has admitted it was indeed sold for $530M to Macarthur Fortune, which turns out to be the fund manager for Platinum Fortune.

“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. Macarthur Fortune shares Jagex’s passion for video games and is dedicated to utilizing its experience and expertise to add value to one of the longest-standing video game developers through strategically investing in R&D and marketing to attract new players to its RuneScape franchise of games.”

It’s not currently clear what impact the changeover will have on the RuneScape franchise itself.

Source: Jagex Press release. Thanks to everyone who pinged us with this!
Advertisement

No posts to display

newest oldest most liked
Subscribe to:
Techno Wizard
Reader
Techno Wizard

This kind of thing will only encourage more private servers if RS fans don’t like what’s officially happening.

Reader
Aeden

As far as RS3 is concerned, the game has been going down hill ever since Jagex sold out in 2007. These companies only want to modernize it, and add more cash shop and loot box junk to draw in new players and milk them as much as possible before they burn out.

Been playing off and on for 16 years and yes, the graphics look great now, but it feels pretty darn shallow. The world feels much smaller than it used to with stuff cluttered everywhere.

I only hope the new company continues to leave Old School RS alone.

Reader
Jon Wax

Holy crap that’s a lotta money. Jeezus…

Reader
Jarette Domongatt

Looking at it, I think its a ghost company or something or a Chinese owned company.

Reader
Leiloni

It’s certainly suspicious considering you can find almost nothing about either of these companies on the internet which is highly unusual (I have to research companies a lot for work and most are easy to find info about).

Not to mention, this guy appears to be in charge of both companies so it certainly doesn’t help the idea that the company might have a Chinese connection. Half of his profile is in Chinese even on the English version of the site. https://www.linkedin.com/in/duke-z-738796159/

Reader
Kickstarter Donor
Greaterdivinity

Oh man, asset management companies are great! They have such a fantastic, long history of supporting the “assets” they manage and totally not milking them to death and then taking them apart piece by piece and selling them off.

Good luck Jagex/Runescape.

Reader
TJ French

Ugh. That’s a blow for their players.