RuneScape Dev Jagex Reportedly Sold For $1.1 Billion to European-US-Led Companies
After reports speculated that a deal might be close for the sale of RuneScape developer Jagex from UK’s Carlyle private equity group to CVC Capital, the deal is now official.
The sale went for a reported approximately $1.1 billion /£910 million, according to The Financial Times, from a joint bid by Europe-based CVC Capital Partners and US-based Haveli Investments. The deal is subject to regulatory approval, but this will now move towards that process. Jagex was last acquired by The Carlyle Group back in January 2021, with resources put into continued development and an emphasis on growth.
The studio has been acquired several times in the past, so this latest sale is one in a string of them. Previously, the company had been owned by Macarthur Holding Corporation back in 2020, and others before that.
Back in September of last year,reports surfaced that Carlyle was looking for a potential sale and were even considering an auction process to start before the end of 2023. a deal at that time wasn't certain, but it looks like they continued to look for a potential buyer and have now found one. When The Carlyle Group acquired Jagex, in 2021, they paid an estimated $530 million, so if the recent sale numbers hold true, they certainly did well for a three-year holding.
Over the past couple of years, RuneScape has continued development, including massive overhauls and visual upgrades, the introduction of Necromancy, the fourth combat style and the first one-ever added. Growth also included ventures like its first collaboration (with Smite), a foray into successfully crowdfunded tabletop gaming, and even a cookbook.
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