United Kingdom-based Jagex, the developers behind 2001 massively multiplayer online game RuneScape, was acquired Monday for $530 million by asset management company Macarthur Fortune Holding. Macarthur bought Jagex through one of its funds, Platinum Fortune LP, the company said Tuesday morning.
Jagex will maintain its team of roughly 400 and headquarters in Cambridge, U.K. while now operating as a subsidiary of Macarthur Fortune Holding, the company said in a statement. Jagex was founded in 1999, slightly before RuneScape launched in 2001.
"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," Jagex chief executive Phil Mansell said in a statement.
By buying Runescape's studio Macarthur Fortune gains a strong foothold in online multiplayer gaming, one of the fastest-growing segments of the global video games market -- Jagex reports the free game has logged over 260 million player accounts and generated over $1 billion in revenue since its launch 19 years ago. Runescape is also available on mobile via the Old School Runescape app for iPhone and Android.
"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 (research and development) and marketing to attract new players to its RuneScape franchise of games," Macarthur Fortune stated Tuesday.