Platinum Fortune Pays $530M For UK Video Game Developer

By Benjamin Horney (May 1, 2020, 10:53 AM EDT) -- A fund run by asset manager Macarthur Fortune Holding LLC has agreed to buy U.K. video game developer Jagex from a subsidiary of China's Shanghai Fukong Interactive Entertainment Co. Ltd. for $530 million, the companies said Friday.

The deal sees Platinum Fortune LP, a fund focused on investing in video game companies, picking up Jagex, which is the company behind popular fantasy massively multiplayer online role-playing game RuneScape, according to a statement. The seller is Shanghai Hongtou Network Technology, which is a subsidiary of Shanghai Fukong Interactive Entertainment.

"The combined strength of Platinum Fortune and Jagex will both support and enhance...

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