Jagex Sold To American Company
Back in January, we reported that Shanghai's Fukong Interactive, a branch of Shangdong Hongda Mining Company, might be looking to sell of RuneScape maker Jagex, which it acquired in 2016. We joked that Jagex was being sold by one "nameless Chinese company" to another, but that's not quite what has happened. Instead, it's been sold to a nameless American company, which should make everyone feel much, much better.
Technically, Jagex's new owner does have a name: Platinum Equity. According to Yicai Global, the game developer's price is $530 million USD, though we're finding other sources saying that the sale price was $350 million. Fukong -- which is "involved in 57 litigation and arbitration cases," according to Yicai -- paid $300 million for Jagex in 2016, so we're more likely to go with that second number.
As for Platinum Equity itself (called "Platinum Fortune" by Yicai), the California-based company describes itself as a "global M&A&O® firm ... specialized in mergers, acquisitions, and operations of companies that provide mission-critical products, services, and solutions in diverse industries." Its trademarked M&A&O strategy means that the firm "provide[s] operational insight based on a deep understanding of our portfolio companies' businesses."
You can, of course, read this in any number of ways, and the notion that Platinum Equity might "provide operational insight" to Jagex has a whiff of the kind of "meddling" that people are always concerned about when a game developer changes hands. But hey, at least it's not a Chinese company! Better to be owned by a company that ... *checks American big business practices* ... will maximize profit above all else, right?
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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