RuneScape developer Jagex soon to be acquired in £900m deal, report suggests

UPDATE 09/02/24: CVC Capital Partners and Haveli Investments have confirmed their agreement to acquire Jagex, though the terms have not been disclosed.

CVC is a Luxembourg-based private equity firm with over €188bn in assets - predominantly in sports. Haveli is a private equity firm in Austin with investments in gaming companies like Omeda Studios and Behaviour Interactive.

"CVC and Haveli will help Jagex build on our portfolio of forever games, furthering our aims of supporting and growing our community of forever fans," said Jagex CEO Phil Mansell. "Together we'll create more of the experiences our fans love, innovate to empower our players further, and build new forever games that capture imaginations.

"The support from [previous owner] Carlyle has been exceptional, and that success has positioned Jagex for the future. With the continued growth of our flagship RuneScape franchise, we're crafting more adventures to delight our forever fans, and we're excited about the future, as we create new experiences that play to our strengths of putting our communities at the heart of everything we do."

ORIGINAL STORY 08/02/24: Cambridge-based RuneScape developer Jagex could soon be snapped up in a £900m deal.

CVC Capital Partners, the private equity backer with a broad sports portfolio, is in exclusive negotiations to acquire Jagex from current owner Carlyle Group, reports Sky News.

Sources suggest a formal agreement to purchase a controlling stake in Jagex could be finalised within days.

The auction of Jagex began last year and has drawn multiple potential buyers, with the aim of achieving a reported £1bn valuation.

However, a number of private equity firms reportedly expressed uncertainty about the company's development pipeline and future business plan.

While the developer is best known for the RuneScape MMO series, its other projects have been less successful.

CVC is said to be exploring new ways of investing in intellectual property with international appeal.

At present, it's known for its sports portfolio including Six Nations Rugby, La Liga, and the Women's Tennis Association among many others.

Carlyle bought a majority stake in Jagex in 2021, following its purchase from US holding firm Macarthur Fortune a year prior.

While Jagex continues to support RuneScape, last year it faced criticism from the game's community for its controversial Hero Pass with pay-to-win microtransactions.