Macarthur Fortune Holding LLC acquires Jagex
Tuesday, April 28th 2020, (2pm UK / 9am EST): Macarthur Fortune Holding LLC, a global asset management company, has announced that it has acquired Jagex, one of the UK’s largest video game developers and publishers, for $530million through one of its funds, Platinum Fortune LP, from Shanghai Hongtou Network Technology. Hongtou Network (Hong Kong) was also acquired by Platinum Fortune LP. The management team of Jagex, headquartered in Cambridge, UK, will remain in place.
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 R&D and marketing to attract new players to its RuneScape franchise of games.
Phil Mansell, Jagex CEO, said: "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.”
About Jagex: A leader in creating deep and engaging living games on PC and mobile, Jagex was founded in 2000 and is today one of the UK’s biggest and most respected video game developers and publishers. Famed for its flagship game franchise, RuneScape, Jagex has welcomed more than 280million player accounts to RuneScape’s game world and created a $1billion lifetime-revenue franchise. Jagex employs more than 400 people at its Cambridge, UK, headquarters. More information can be found at www.jagex.com
About Platinum Fortune: Platinum Fortune is a private fund managed by Macarthur Fortune with a focus on the global video game market, which is expected to generate revenue of $148.8billion in 2019 and grow with a CAGR of over 9% by 2022 according to Newzoo. Platinum Fortune targets global video game companies and designs strategies to help them grow user base and revenue with the goal of creating better experiences for the 2.5billion, fast-growing, global gamer community.
About Macarthur Fortune: Macarthur Fortune is a US-based global asset management firm founded by a group of seasoned investment professionals. The company has worked together with world-class management teams and entrepreneurs in the video game, cloud computing, artificial intelligence robotics industries to create long-term sustainable growth. Macarthur Fortune’s investments span the full range of opportunities including venture capital, private equity, merger and acquisition and public companies.