So Jagex’s denial of being sold didn’t quite hold up to time.
Some of you more avid readers may recall that last year we detailed that Jagex was being bought up by US Platinum Fortune LP for $530 million. We were forced to retract the announcement as shortly thereafter Jagex flat out denied those reports.
With MMO Fallout’s established trend of reporting the facts and only the facts, we must now retract that retraction as our original report was in fact correct. Jagex is being sold to US Platinum Fortune LP for $530 million. Is it possible that Yicai Global lept off the starting line a little too early in reporting the sale? Absolutely. They were still correct.
Jagex has published a press release with details.
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.
Phil Mansell, Jagex CEO, 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.”
Fukong Interactive Entertainment was reported to be selling off Jagex not due to Jagex’s performance which has consistently grown in subscriber numbers as well as revenue and profits, but to provide an influx of revenue needed to pay off some heavy debts.
Source: Jagex
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