Fukong sells jagex. " 11 December 2008.

Fukong sells jagex. First, they signed an agreement to sell Jagex and announced it in July already. AutoModerator Big thank you to Jagex for not banning my Zulrah alts! I finally hit 500,000 kills! (Mods - The names of my alts are all redacted) In mid-2016, Jagex was acquired by Fukong Interactive Entertainment for $300 million. As reported by Sky News, the organisation has apparently had bids from private equity companies Advent International and CVC Capital Partners. This is not news. In addition to RuneScape, Jagex has Runescape parent company Fukong sells Jagex. The news that Shanghai Fukong intended to sell part or all of its stake in Jagex broke earlier this year. 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. To be fair to Jagex, the developer that makes RuneScape, it was already owned by a Chinese company called Fukong after being purchased by Hongtou Holdings in 2016. A deal that has been in the works for months that has been completed. Last year, Jagex generated CNY818 million in revenue, which equaled 99. They just were forced to sell Jagex because of billions in debt. In mid-2016, Jagex was acquired by Fukong Interactive Entertainment for $300 million. The company's name is derived from the company's original slogan, "Java Gaming Experts". RuneScape is the biggest massively-online multiplayer RPG in the world. How many times has Jagex been sold? Jagex has been owned by several investors since 2012, including Hongtou Holdings and Macarthur Fortune Holding. Shanghai Fukong Interactive Entertainment Co. Read more: Check out the best MMOs on PC. If anything I see this as an indication that the parent company and market value Jagex fairly well. (Archived from the original on 9 February 2024. This topic has gone through Reddit at least 4-5 times now. “Whatever the outcome of Fukong’s restructure, Jagex continues to execute on our short-term and long-term strategies for the RuneScape Rebranded at Fukong Interactive, the entity aimed to be a major player in the global gaming market, leveraging Jagex’s established brand and expertise to expand its portfolio. “Whatever the outcome of Fukong’s restructure, Jagex continues to execute on our short-term and long-term strategies for the RuneScape As far as I'm aware Jagex really doesn't have a say in any of this considering their equity is 100% owned by Hongtou, whom has 100% of it's equity owned by Fukong, and all the board members of Hongtou voted yes on selling the assets (Jagex). On April 28, 2020 Jagex announced that the company had been sold. They could've just not released this update for all the difference it makes; this is just an attempt to look "transparent. The Carlyle Group is one of the world‘s largest private equity firms, with over $260 billion of assets under management. 9 months ago I wrote describing the mysterious sale of Jagex to Macarthur Fortune (run by Shanghai Hongtou Network Technology) to be run by Fukong Interactive. Meanwhile China Minsheng Trust which is part of China Minsheng Bank, (probably one of the plaintiffs in China that lent money to Shanghai Hongtou Network Technology/ Fukong Interactive Based on recent news reports and community questions, we have one of ‘those’ corporate statements for you On January 23rd, Fukong Interactive issued a regulatory statement to Financial turmoil continues in China as Jagex's owner Fukong spins a web of technicalities and loopholes. 1 million subscribers across both RuneScape and Old School RuneScape. Jagex employs more than 360 people at its Cambridge headquarters. Apologies for the length of this post, it'll be worth it - I'll be as concise as possible. How much did the Gower brothers sell Jagex for? The Gower brothers sold Jagex to a Chinese company called Fukong for an undisclosed amount. Investment giant The Carlyle Group is now reportedly looking to sell RuneScape maker Jagex. 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. The studio was previously owned by Shanghai Hongtou Network Technology, a company within Chinese Fukong Interactive, a Chinese company and current owner of RuneScape developer Jagex, is looking to restructure and, as a result, could be selling some or all of its The company has yet to conduct its "major asset sale" as ordered by the court, which means they have to sell Jagex to pay their debts otherwise the court would forcefully do so. This was in addition to Update: Jagex reversed its decision, saying it's now "exploring options" to work with Runelite HD creators Fukong Interactive also sells RuneScape developer's parent company to Macarthur The sad part about all of this, is that when the company sells based on inflated numbers, the expectation of the company buying Jagex will be to maintain and improve upon those numbers. It's just that thinking Fukong is like "okay, we got some money from rs, time to sell" doesn't really add up because OSRS is about as profitable as In mid-2016, Jagex was acquired by Fukong Interactive Entertainment for $300 million. Link to their most recent quarterly report. This story was originally published on PCGamesInsider. In 2012, IVP bought Jagex out for around $150 million, and then in 2016, a Chinese firm called Fukong bought the developer for $350 million. Best known for their RuneScape games, the series is something of a legend in gaming history having been around for over 20 years Shanghai Fukong Interactive Entertainment sell Jagex to Platinum Fortune for USD 530m . It has 260 million created accounts, which dwarfs runner-up World of Warcraft and gives it the title of world's largest and most-updated free MMORPG by Guinness Book of The Carlyle Group (CG) acquires the creator of RuneScape, Jagex at the undisclosed terms. From the article: "That’s why it might seem initially puzzling that this week Reuters published a brief announcement that Shanghai Fukong is hoping it sell its “entire or partial stake” in the UK-based Jagex Ltd. It is best known for RuneScape and Old School RuneScape, both free-to-play massively multiplayer online role-playing games. But the latest sale stands out not just for its huge price tag, but also the pedigree of buyer. One player hit the cap in the last 12 months. So what they did was create a new "US based" company and sold Jagex to that. Jagex is denying a report that it has been purchased for $350 million to settle parent company Fukong Interactive’s debts. Shanghai Fukong Interactive Entertainment, previously known as Zhongji Holding, is a venture capital firm that started in June 2016 and bought all investments from Insight Venture Partners, The Raine Group and Spectrum Equity Investors for a 100% stake in Jagex for $300,000,000 USD through its subsidiary Shanghai Hongtou Network Technology Co. 9 February 2024. It is the very same Chinese company that owns Jagex right now. Then it went to another Chinese holding company that eventually came to be They're being asked about their plan to sell jagex, including their reasoning and expected outcome from the sale Transaction background: they're in a lot of debt and the government is force auctioning their assets to pay off the debt, they've managed to secure a delay in this judicial auction Jagex paid massive dividends to Fukong so jagex The news that Shanghai Fukong intended to sell part or all of its stake in Jagex broke earlier this year. Previously the company was owned by Shanghai Hongtou Network Technology, which is a company within Fukong Interactive Entertainment, a China Minsheng Trust which is part of China Minsheng Bank, (probably one of the plaintiffs in China that lent money to Shanghai Hongtou Network Technology/ Fukong Interactive Entertainment and filed a case in China to pay up) is now in the UK high courts, challenging the sales of Jagex which they deem illegal under the Chinese court order of freezing all assets in Shady holdings company owned by Fukong sells Jagex to Shady holdings company probably also owned by Fukong because Fukong needs money. RuneScape News. According to Shanghai Fukong's financial statements, Jagex's unannounced game is an MMO for the Chinese market . Carlyle sells Jagex to CVC and Haveli Investments . It's all over the place and the committee has to ask the question several times before they get a The news last year that UK-based Jagex had been purchased by Chinese company Fukong Interactive Entertainment came as something of a surprise. 3686 million pounds, an increase of 14. Back in 2016, it was acquired by Chinese company Shanghai Fukong – formerly Shangdong Hongda Mining – for a reported $300 million. Jagex is part of Fukong Interactive Entertainment, a global games group publicly listed in Jagex has once again clarified that it is not being sold by Chinese parent Fukong Interactive. Seeing as their intention is to sell in order to fend off debt, they will likely sell for under worth. Following this sale, the investment The Chinese company Fukong Interactive has sold the entirety of its stake in RuneScape developer Jagex. Following are some Google Translated snippets from the articles that are all over UK MMO developer Jagex has been acquired for $530 million. 3. A Reddit thread linking to various regulatory statements issued by Fukong were considered to be an Jagex Limited is a British video game developer and publisher based at the Cambridge Science Park in Cambridge, England. Nothing changes, Chinese overlords still run the show and probably always will. It looks as though while Jagex was making bank and generating its best year ever in 2018, Shanghai Fukong had anything but. News Feb 7th, 2024. Macarthur plans to grow the RuneScape playerbase via strategic In 2016, Shandong Hongda, a Chinese iron ore mining operations company acquired Runescape developer Jagex in a $300-million-dollar deal. ,Ltd said it plans to sell an entire or partial stake in its unit Jagex Ltd. These bids, however, were in the region of £800 ($1 billion), lower than the £1 billion ($1. Following speculation that began in September 2023, global investment firm Carlyle has successfully sold developer and publisher Jagex to an investment consortium comprised of CVC Capital Partners Fund VIII and Haveli Investments. 88%; net profit of The studio was originally purchased by Shanghai Hongtou Network Technology, a company within Fukong Interactive Entertainment, back in 2016. Credit to alphachan123 for a clearer translation. Only time will tell. It has 260 million created accounts, which dwarfs runner-up World of Warcraft and gives it the title of world's largest and most-updated free MMORPG by Guinness Book of " (Yicai Global) June 28 -- China's Fukong Interactive Entertainment will sell its overseas businesses, including British gaming arm Jagex, its major driver of revenue, in order to pay off debt. Why Carlyle Group Acquired Jagex and OSRS. 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. Shanghai Fukong Interactive Entertainment, previously known as Zhongji Holding[1], is a venture capital firm that started in June 2016 and bought all investments from Insight Venture Partners, The Raine Group and Spectrum Equity Investors for a 100% stake in Jagex for $300,000,000 USD. " 11 December 2008. Shanghai Fukong Interactive Entertainment, the owners of Runescape studio Jagex, is selling its stake in the company for $530 million (£424,063,600). This is the latest string in, frankly, bizarre companies to buy Jagex. You know back in my day a company could sell Jagex without constantly being hit with lawsuits. " So when they say Fukong penned a deal with US Platinum Fortune, valuing Jagex at USD530 million and giving Hongtou Network Hong Kong a value of zero, the Shanghai-based game developer said in a statement yesterday. . For its part, Jagex is seeing a rather positive performance. But besides that, Jagex's worth is part MTX revenue. ) ^ Jagex. "RuneScape France. London & Cambridge, UK, 9 February 2024 – Global investment firm Carlyle (NASDAQ: CG) and CVC, a leading global private markets manager, are pleased to announce that CVC Capital Partners Fund VIII and Haveli Investments have agreed the acquisition of Jagex, a leading developer and publisher of video games. So any potential buyer wanting to cut that out would just shoot themselves in the foot by making It is the very same Chinese company that owns Jagex right now. Jagex has bounced between a number of different owners over the past 15+ years. They're being asked about their plan to sell jagex, including their reasoning and expected outcome from the sale Transaction background: they're in a lot of debt and the government is force auctioning their assets to pay off the debt, they've managed to secure a delay in this judicial auction Jagex paid massive dividends to Fukong so jagex Jagex continues to attract industry-leading talent as the RuneScape franchise celebrates the most successful year in its 19-year history to bring life to the living games of the future. In a nutshell, they sold Jagex to themselves. Four years later, the RuneScape maker was bought by another Chinese company, MacArthur Fortune Holding, for a confirmed $530 million. , Ltd. To be fair to Jagex, the developer that makes RuneScape, Shanghai Fukong Interactive Entertainment, the owners of Runescape studio Jagex, is selling its stake in the company for $530 million (£424,063,600). During 2018, the firm says its monthly active users doubled, while revenue was up 10 per cent year-on-year. Jagex: It can be thousands, up-to £1,000 a week or £5,000 a month. 27 billion) that Carlyle was Shanghai Fukong Interactive Entertainment Co. That's why they never invested money into Jagex. Macarthur Fortune Holding LLC bought Jagex But Fukong is trying to sell off Jagex first to avoid losses. For those of you keeping track Jagex has been sold yet again to an American investor and yet again the sale has become the focal point of a lawsuit. Maybe Jagex will end up in better hands as well. On 2 April Carlyle to sell UK video games maker Jagex for £910mn. Fukong yikes The former Fukong CEO referred to Jagex as simply a cash cow for them to milk off. Carlyle spent $530 mil and almost doubling it. In 2021, the Carlyle Group paid an eye-watering sum of $530 million for Jagex – and now talks are suggesting that the firm could sell again for as much as $1. Jagex is primarily known for its key RuneScape titles, Runescape parent company Fukong sells Jagex. It stands to reason that the owner of the company decides who to sell to. During 2018, the firm says its monthly active users doubled, while revenue was up ten per cent year-on-year. Fukong penned a deal with US Platinum Fortune, valuing Jagex at USD530 million and giving Hongtou Network Hong Kong a value of zero, the Shanghai-based game developer said In January last year, Fukong Shanghai, the owner of RuneScape developer Jagex, announced their plans to sell the studio as the Chinese company struggled to survive against the gaming bans in China. Through 2018, Shanghai Hongtou Network technology experienced issues related to debt and engaged in shady business practices (the Chinese lending Jagex has bounced between a number of different owners over the past 15+ years. biz. Buy low(ish), sell high. On 22nd January, Reuters reported Shanghai Fukong Interactive Entertainment Co Ltd planned to sell its stake in Jagex, Jagex said Fukong is considering selling up as part of (Yicai Global) June 28 -- China's Fukong Interactive Entertainment will sell its overseas businesses, including British gaming arm Jagex, its major driver of revenue, in order to pay off Over the course of 2019, we covered the news that RuneScape developer Jagex was being put up for sale by the Chinese holding company that purchased it back in 2016, Once owned by Chinese company Fukong Interactive, Jagex was sold to the holding company Macarthur Fortune Holding in 2020. For its part, Jagex is seeing rather positive performance. Talk of an impending sale had been circulating since early this Platinum Fortune also bought Shanghai Fukong's Hongtou Network, the division under which Jagex sat. Rumours which began circling back in The chairman of Jagex parent company Fukong Interactive Entertainment stepped down from the role at the end of December 2018, and that event has proved to be the catalyst 11/07/2019 Fukong has not sold Jagex, If Fukong does decide to sell, it will be doing so less than three years after acquiring Jagex. 1 billion. Q447-451: Why does RS3 have MTX but OSRS does not? Jagex: *I'd advise you read their response directly from the transcript. 5% of that of Fukong. Now was a good time for Fukong to sell though, with Jagex riding high on a 2019 that saw a high of 1. Read this next SayGames to invest $30m in hybrid casual Fukong paid $350 for Jagex and sold for at least $530 mil to Carlyle. [2][3] It was formed by employees of Shandong Hongda who originally put forward the It's official: RuneScape developer Jagex has been sold to a Chinese-owned shell corporation registered in Delaware. Another sale of Jagex contended as illegal. We will most likely see a barrage of MTX updates, non Jagex, the UK-based MMO developer, has been purchased for $530 million. I think Fukong will milk the shit out of Jagex as soon as they finally decide to sell, so as to push the profit margins as far as possible. Famed for its flagship game franchise, RuneScape, Jagex has welcomed more than 280million player accounts to RuneScape’s game world and created In mid-2016, Jagex was acquired by Fukong Interactive Entertainment for $300 million. Jagex achieved sales revenue of 43. comment sorted by Best Top New Controversial Q&A Add a Comment. In July of the same year, Fukong revealed that it was selling Jagex to the private equity investment firm US Platinum Fortune for $530 million. 6. This means that the current push of MTX will become the standard, and they will seek to find more ways to squeeze in MTX, further raise subscription prices, etc. A few months later, It's official: RuneScape developer Jagex has been sold to a Chinese-owned shell corporation registered in Delaware. Jagex has grown its RuneScape titles to a $1B franchise with ~300M player accounts in 20 years. Jagex has been sold yet again. This time we’re talking RICO allegations, that’s criminal racketeering.