Chinese iron ore mining company Shandong Hongda has fully acquired for $300 million Jagex Ltd, the largest independent games developer and publisher in the United Kingdom. Shandong is a listed ferrous metal mining industry firm with headquarters in Shanghai, China. It produces iron powder, copper powder and iron ore, operating mostly in the domestic market.
Located in Cambridge, England, Jagex is the creator of the multiplayer online role-playing game Wild World (RuneScape), played by around 200 million players worldwide. Jagex’s acquisition is part of Shandong’s plans for business transformation even as it aims to enhance its outbound M & A experience.
Jagex said that it is not a done deal, despite reports to the contrary. In a statement, the company said: “Jagex has entered into a non-exclusive, non-binding arrangement for a potential acquisition. The negotiations surrounding the acquisition are ongoing and it remains very much business as usual for the company.”
On a post on the forum of “RuneScape,” in which players battle gods, dragons and mythical creatures in the realm of Gielinor, the company said: “Jagex’s shareholders have received offers of interest and have responded positively to an approach from a Chinese company.”
It added: “Jagex is in early stage discussions with the firm in question, but we must stress that they may — or may not — materialize into anything. However, should they come to fruition, it would potentially allow us access to the Asian marketplace to a high level.”
Jagex said its planned launches for “NXT,” “Zeah,” “Chronicle: RuneScape Legends,” “God Wars Dungeon 2,” and “RuneScape: Idle Adventures” remained on track.
Source: Variety.com
