Jagex, the creators of RuneScape, are the latest company to come under the control of a Chinese-owned parent company. The acquisition of the MMO specialists was part of "the first move in creating a dedicated, highly focused Chinese-owned games company within a newly created structure of a highly respected and well established local organisation, which is committing significant resources to the new entity."
"Having visibility in China, which is now the biggest gaming market in the world, the new entity is a compelling and attractive proposition for western businesses seeking to broaden their reach in a fast-rising, rapid growth region. It will enable them to tap into a creative and development talent pool to design and develop content for the Chinese consumer and engage with, and expand, a global community, " Jagex CEO Rod Cousens said in a statement.
"Jagex will continue to be operated by the existing management team, which has overseen an impressive trading performance in recent times and driven its iconic franchise, RuneScape to continued growth. It will be business as usual for the Company, its players and its employees post-acquisition."
Lisa Pan and Thomas Song will join a new-look board of directors, and a "new investment cycle" is planned as they look to grow RuneScape while "seeking out additional mergers and acquisitions."