‘RuneScape’ Developer Jagex Set to Be Bought by China’s Shandong Hongda
By Leo Barraclough
March 16, 2016
LONDON — Chinese iron ore mining company Shandong Hongda is set to acquire British computer games developer Jagex Games Studio, the developer of online role-playing game “RuneScape,” in a $300 million deal. Insight Venture Partners owns a majority stake in Jagex, with The Raine Group and Spectrum Equity holding minority stakes.
Jagex said Tuesday that it is not a done deal, despite reports to the contrary. In a statement, the company said: “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.”
On a post on the forum of “RuneScape,” in which players battle gods, dragons and mythical creatures in the realm of Gielinor, the company said: “Jagex’s shareholders have received offers of interest and have responded positively to an approach from a Chinese company.”
It added: “Jagex is in early stage discussions with the firm in question, but we must stress that they may — or may not — materialize into anything. However, should they come to fruition, it would potentially allow us access to the Asian marketplace to a high level.”
Jagex said its planned launches for “NXT,” “Zeah,” “Chronicle: RuneScape Legends,” “God Wars Dungeon 2,” and “RuneScape: Idle Adventures” remained on track.