LOS ANGELES, May 1, 2020 /PRNewswire/ -- Platinum Fortune LP has announced that it has acquired Jagex, one of the UK's largest video game developers and publishers, for $530million from Shanghai Hongtou Network Technology, a subsidiary of Shanghai Fukong Interactive Entertainment Co., Ltd (SH600634) at the time of the purchase. An asset portfolio including Hongtou Network (Hong Kong) was also acquired by Platinum Fortune. The management team of Jagex, headquartered in Cambridge, UK, will remain in place.
Platinum Fortune shares Jagex's passion for video games and is dedicated to utilizing its experience and expertise to add value to one of the longest-standing video game developers through strategically investing in R&D and marketing to attract new players to its RuneScape franchise of games.
Phil Mansell, Jagex CEO, said:
"The combined strength of Platinum Fortune and Jagex will both support and enhance our strategic plan to deliver great gaming experiences to our communities of RuneScape players and build on our portfolio with more living games for a global audience".
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. Famed for its flagship game franchise, RuneScape, Jagex has welcomed more than 280 million player accounts to RuneScape's game world and created a $1billion lifetime- revenue franchise. Jagex employs more than 370 people at its Cambridge headquarters. More information can be found at www.jagex.com
About Platinum Fortune
Platinum Fortune targets global video game companies and designs strategies to help them grow user base and revenue with the goal of creating better experiences for the 2.5billion, fast- growing, global gamer community. Platinum Fortune, who focused on the video game sector, is one of the funds managed by Macarthur Fortune Holding LLC.
SOURCE Platinum Fortune