Remember earlier this year when reports of Jagex being acquired by a Chinese mining company surfaced? Well, today Jagex has revealed that they have indeed been acquired by Chinese investors. Details of the deal however, haven’t been released.
Jagex, the developer behind the insanely popular long-running MMO, RuneScape, has today confirmed that the company has been acquired by Chinese investors with immediate effect. A new Board of Directors has also been put together.
According to Jagex, the acquisition is “the first move in creating a dedicated, highly focused Chinese-owned games company within a newly created structure of a highly respected and well established local organisation, which is committing significant resources to the new entity.”
The move will also allow Jagex to also expand its projects for RuneScape and its franchise extensions such as Chronicle: RuneScape Legends, RuneScape: Idle Adventures, and of course Old School RuneScape. It’ll also allow the company to seek out additional mergers and acquisitions to ramp up its presence in the gaming space.
“Having visibility in China, which is now the biggest gaming market in the world, the new entity is a compelling and attractive proposition for western businesses seeking to broaden their reach in a fast-rising, rapid growth region. It will enable them to tap into a creative and development talent pool to design and develop content for the Chinese consumer and engage with, and expand, a global community,” said Said Rod Cousens, CEO, Jagex.
“Jagex will continue to be operated by the existing management team, which has overseen an impressive trading performance in recent times and driven its iconic franchise, RuneScape to continued growth. It will be business as usual for the Company, its players and its employees post-acquisition.”