Jagex Acquisition Confirmed by CVC Capital Partners and Haveli Investments

CVC Capital Partners and Haveli Investments have officially announced their intention to acquire Jagex, the renowned developer of the RuneScape series, from its current owner, Carlyle Group. Although the financial details of the acquisition remain undisclosed, earlier reports suggested that CVC is prepared to invest approximately £900 million in the purchase. As one of the world's largest private equity firms, CVC Capital Partners has primarily focused on investing in sports teams and leagues, whereas Haveli Investments has established itself as a significant player in the gaming industry, having previously supported notable studios such as Behaviour Interactive and Omeda Studios. With a global workforce of over 700 employees, Jagex has garnered immense success with its RuneScape franchise, which has generated in excess of $1.5 billion in revenue since its inception 23 years ago. The company has reported a record number of subscribers for both RuneScape and Old School RuneScape in 2023, underscoring the enduring popularity of the series. Currently, Jagex is working on the upcoming PC and console release of Scum, a game developed by Gamepires, which the company acquired in 2022. Having undergone multiple changes in ownership over the past decade, Jagex was previously acquired by a group of Chinese investors in 2016 and later sold to Macarthur Fortune Holding in 2020 for $530 million, before being acquired by the Carlyle Group in the following year. Reports emerged in September indicating that Carlyle was seeking to sell Jagex, merely two years after its acquisition. CEO Phil Mansell expressed his enthusiasm for the new partnership, stating, 'I'm delighted to welcome CVC Capital Partners and Haveli Investments as strategic partners for Jagex. 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. 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 acquisition was facilitated by Goldmans Sachs, which advised on the deal for CVC Fund VIII and Haveli, while Morgan Stanley & Arena served as financial advisors for Carlyle.