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Runescape developer Jagex is being acquired by CVC Capital and Haveli Investments

"Together with the expertise of CVC and Haveli we intend to level-up again."

Chris Kerr

February 9, 2024

2 Min Read
Old School Runescape key artwork
Image via Jagex

Runescape developer Jagex is being acquired by private equity firms CVC Capital and Haveli Investments. The news was confirmed by CVC and Jagex's current owner Carlyle Group.

Earlier this week, Sky reported that CVC was set to purchase Jagex in a deal worth £900 million ($1.1 billion). Although the terms of the acquisition haven't been disclosed by CVC or Carlyle, we now know those rumors were almost bang on the money.

The news means Jagex is about to change ownership for the fourth time in eight years. The UK studio was previously acquired by Fukong Network in 2016 for $230 million before being sold to Macarthur Fortune Holding in 2020 for $530 million.

Macarthur eventually sold Jagex to The Carlyle Group in 2021 for an undisclosed fee, and the studio is now poised to take another ride on the M&A merry-go-round.

CVC described Jagex as "one of the most successful British game studios" and said the company is "very well-positioned to continue in its mission of creating new and innovative player experiences."

Under the stewardship of Carlyle Group, Jagex expanded its internal development capabilities with the acquisitions of Scum developer Gamepires and U.S. studio Pipeworks. Runescape also hit new heights and currently boasts 2.4 million active subscribers and 1 million free-to-play users.

Jagex's huge potential

Jagex CEO Phil Mansell said Carlyle Group transformed the studio, leaving it well-placed to capitalize on the "huge potential" of the game sector.

"Jagex has been on a transformational journey in recent years, adding further growth to our Runescape communities, modernizing our live games tech and publishing capabilities, and diversifying Jagex into an international group of talented studios," Mansell added in a separate post on Linkedin.

"Carlyle have really helped make our vision of a community-driven forever games platform a reality, and together with the expertise of CVC and Haveli we intend to level-up again. Getting to know the impressive CVC and Haveli teams over the last year has been a pleasure and we're all excited to be working together for this next chapter for Jagex."

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About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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