Jagex Acquired By Chinese Investors, New Board Of Directors

Jagex announced today that it has been acquired by a group of Chinese investors. As a result of the acquisition, "a new Board of Directors has been constituted."

The acquisition of Jagex appears to be just the beginning. The press release describes plans for the company's future as follows.

The acquisition of Jagex is the first move in creating a dedicated, highly focused Chinese-owned games company within a newly created structure of a highly respected and well established local organisation, which is committing significant resources to the new entity.

The move will see Jagex propelled into a new investment cycle to charge forward with growth projects for RuneScape and its franchise extensions, while seeking out additional Mergers and Acquisitions opportunities to ramp up its presence in the gaming space.

Jagex CEO Rod Cousens had the following to say about the announcement.

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. 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.