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Potential Jagex Acquisition Thread is locked

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Hellcat
Dec Member 2023

Hellcat

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Wait, is this deal going to be finalised on April 1st or something?


i was just thinking that this was too early for an april fools joke :(
connoisseur of memes and carbohydrates

15-Mar-2016 17:19:47

Dsctatom
Dec Member 2023

Dsctatom

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Would they be buying shares, or Jagex itself?

I'm fearing that it's the latter.


It is the latter. If the deal goes through the Chinese company will have 100% ownership, and considering the acquisition company is on the brink of bankruptcy this could very well mean the end of Runescape.


It'll be interesting to see if they try to relocate HQ, forcing most of Jagex's staff to quit.

15-Mar-2016 17:20:39

Maniax
May Member 2003

Maniax

Posts: 5,602 Rune Posts by user Forum Profile RuneMetrics Profile
Hmm...the news articles I'm seeing online are saying the deal is already done

*****

March 15, 2016:

China-based Shandong Hongda Mining Co Ltd has fully acquired for $300 million Jadex Ltd, the largest independent games developer and publisher in the United Kingdom (UK).

US law firm Skadden represented Shandong in acquiring Jagex.

Shandong is a listed ferrous metal mining industry firm with headquarters in Shanghai, China. It produces iron powder, copper powder and iron ore, operating mostly in the domestic market.

Located in Cambridge, England, Jagex is the creator of the multiplayer online role-playing game Wild World (RuneScape), played by around 200 million players worldwide.

Jagex’s acquisition is part of Shandong’s plans for business transformation even as it aims to enhance its outbound M & A experience.

Jagex started in 2001 with their flagship free-to-play adventure game, RuneScape, and since then created a long-standing reputation for crafting the world’s best online games services.

Jagex prides itself on developing and publishing hugely popular, accessible, free-to-play online games for millions of players globally.


*****
Growing old is compulsory, Growing up is optional

15-Mar-2016 17:21:06 - Last edited on 15-Mar-2016 17:21:34 by Maniax

xenofidelity

xenofidelity

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This is lame news.
Selling yourself to a financially rough mining company that's probably throwing money at any investment-potentiasl area that they can latch on to for collapse-prevention.

I just don't know how I feel about some essentially random corporation totally outside of any related-technology field taking Jagex out of the blue, and then doing what they can to keep themselves afloat which can potentially be bad for Runescape.

I guess Jagex hasn't been doing to well itself, which is not surprising from the closing of darkscape, transformers universe fail(and abandoning Stellar Dawn).

15-Mar-2016 17:22:42

sir eos lee

sir eos lee

Posts: 11,942 Opal Posts by user Forum Profile RuneMetrics Profile
Long time ago, company I work for wanted to roll out a product line. But it was going to be EXPENSIVE. More than what our revenues could support, this was on top of 2 other product lines we tried to roll out.
Fast forward 4 years, we had to rush essentially an alpha production batch. A few people loved the concept, but in the end, 2 things doomed it: technology caught up, and while the market liked the idea they didn't want to buy it.
We eventually had to abandon the project. (Think Jagex's Mechscape, but we actually got to Alpha phase)
Management went with seriously taking an acquisition from a company that didn't really mesh with us. We would have been a "division" of the larger company.
That never went thru.

We eventually got in with an investment group who funneled money to us. So we still do our thing, we report to them.
But, we don't do anything with any of the other various firms they also have stakes in. (well ... we did house a group because we had open cubicles ... because they planned to move into the area ... but after a number of months most of those folks were let go or sent back to a different office)

15-Mar-2016 17:23:17

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