Chinese investors have confirmed the acquisition of UK studio Jagex, the developer behind popular MMO RuneScape.
Reports first emerged back in March that a Chinese mining firm planned to purchase the Cambridge-based firm. Now the studio has confirmed it has taken its first step to becoming a new Chinese-owned games company.
The official statement reveals that Jagex will take on “a newly created structure” and enters “a new investment cycle [to grow] Runescape and its franchise extensions, while seeking out additional mergers and acquisitions… in the gaming space”.
A new Board of Directors has also been formed, including Lisa Pan and Thomas Song who completed the deal on behalf of shareholders.
Jagex will still operate out of Cambridge, where it is currently celebrating the 15th year of RuneScape.
“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,” said CEO Rod Cousens.
“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.
“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.