In September 2023, global investment firm Carlyle sold developer and publisher Jagex to an investment consortium comprised of CVC Capital Partners Fund VIII and Haveli Investments. Best known for their iconic RuneScape games, the series has a legendary status in gaming history, boasting over 20 years in the industry and currently holding over 2.4 million active, fee-paying subscribers. The company has accumulated over 300 million lifetime RuneScape accounts and currently employs a staff of 700.
Under Carlyle’s ownership, Jagex underwent a restructuring process aimed at expanding the distribution of its games. In 2022, the company also acquired Gamepires and Pipeworks Studios to further enhance its portfolio.
Transformation and Growth
Phil Mansell, CEO of Jagex, shared the news on LinkedIn, expressing his excitement about the acquisition by CVC and Haveli. He highlighted the company’s significant progress in recent years, attributing it to the growth of the RuneScape communities, modernization of live games tech, and expansion of the company’s international studios. Mansell also expressed his gratitude towards Carlyle for their partnership in making Jagex’s vision a reality, and looked forward to the collaboration with CVC and Haveli to propel the company to the next level.
“On behalf of Jagex Group, I want to acknowledge the hard work and dedication of our teams, as well as our advisors, in making this transaction possible,” Mansell added.
Patrick McCarter and Andrew Tan from Carlyle congratulated Jagex on their successful development, emphasizing the company’s position as a leader in the gaming industry. They commended the partnership with Jagex and expressed their support for the company as it enters a new chapter.
New Ownership
This announcement marks the sixth change in ownership for Jagex since 2012. From Insight Venture Partners to Carlyle, the company’s journey has seen various transitions. The acquisition by CVC and Haveli adds another chapter to Jagex’s evolving story, following the successful contributions of the previous owners.
While the exact sale price in today’s deal has not been disclosed, speculation from Reuters estimated the potential value of the sale to be around £1 billion ($1.25 billion).
