Ownership of Jagex
The name Jagex Software has been in use since at least 1999 and was originally described as a "small software company based in England [who] specialise in producing top-quality Java-games for webpages".[1] The name Jagex originally stood for "Java Audio Graphics Extension". It was retrofitted to stand for "Java Gaming Experts" when Andrew Gower, Paul Gower, and Constant Tedder bought a shelf company named Meaujo (492) Limited, and changed its name to Jagex Limited on 27 June 2000.[2]
Jagex was made to operate its then in-development MMORPG RuneScape, initially called DeviousMUD, which they had been working on since 1999. Only a year after the game's release, it already had over one million free accounts registered. The company began exploring monetization of the game in the form a monthly fee, and the development of partnerships with advertisers, eventually launching a subscription version of the game on 27 February 2002. There was 5,000 subscriptions in the first week of doing so, making RuneScape one of the largest Java pay-to-play games in the world.
On 4 May 2007, Jagex announced that RuneScape had reached over 9 million free players and 1 million subscribers.[3] In the Sunday Times' Rich List of 2006, Andrew and Paul Gower were said to be worth £32 million.[4]
In December 2011, Jagex finished preparation of a full move to a consolidated HQ in Cambridge's Science Park. The building was more than double the size of their old office. In 2012, Jagex opened a small office in California, with former Rockstar Games developers staffing it. By the end of 2013, Jagex had over 500 staff members across multiple departments. Since 2014, staff numbers have declined.
Changes in ownership[edit | edit source]
In October 2005, Insight Venture Partners secured a 35%[5] investment in Jagex, which had been self-funded until that point.[6] As part of the investment, Insight Co-founder Jeffrey Horing and Vice President Alexander Crisses joined Jagex's Board of Directors.
As part of a growth investment, Insight increased its investment to 55.45% as The Raine Group and Spectrum Equity Investors made initial investments.[7] In a press release, Jagex CEO Mark Gerhard said "Insight has been part of the Jagex family for a number of years and it has been a real pleasure to serve alongside them on the Jagex board."[7] Andrew Gower, Paul Gower and Constant Tedder left Jagex's Board of Directors as representatives from Raine and Spectrum joined.
In mid-2016, Jagex was acquired by Fukong Interactive Entertainment for $300 million through a buyout of all parties invested in Jagex.[8][9][10]
On 28 April 2020, it was announced that Jagex was acquired by Macarthur Fortune Holding LLC, a global asset management company, for $530 million.[11][12][13]
On 25 January 2021, Jagex announced that it was being acquired by the Carlyle Group.[14]
In February 2024, investment firms CVC Capital Partners and Haveli Investments partnered to acquire Jagex in a deal reportedly worth £910 million.[15]
Historic ownership structure[edit | edit source]
| Shareholder(s) | <10-2005 (N/A) |
10-2005 (unknown) |
12-2010 (unknown) |
07-2016 ($300m) |
04-2020 ($530m) |
01-2021 (unknown) |
02-2024 (£910m) |
|---|---|---|---|---|---|---|---|
| Gower brothers (founders) | 100% | 65% | Unknown | - | - | - | - |
| Insight Venture Partners | - | 35% | 55.45% | - | - | - | - |
| The Raine Group | - | - | Unknown | - | - | - | - |
| Spectrum Equity Investors | - | - | 17.84% | - | - | - | - |
| Fukong Interactive Entertainment | - | - | - | 100% | - | - | - |
| Macarthur Fortune Holding | - | - | - | - | 100% | - | - |
| The Carlyle Group | - | - | - | - | - | 100% | - |
| CVC Capital Partners | - | - | - | - | - | - | Unknown |
| Haveli Investments | - | - | - | - | - | - | Unknown |
Plutos Sama Holdings[edit | edit source]
TBD[16]
Changes in leadership[edit | edit source]
With Jagex's changes in ownership structure, the non-executive Board of Directors (BOD) and the executive leadership have gone through changes as well.
(Non-)executive leadership[edit | edit source]
| Name | BOD role(s) | Leadership role(s) | Appointment[17] | Termination[18] | Primary company | Note |
|---|---|---|---|---|---|---|
| Andrew Gower | Director, Company Secretary | Co-founder | 2001, 15 March | 2001, 10 December | Jagex | |
| Andrew Gower | Director | Co-founder | 2005, 16 August | 2010, 3 December | Jagex | |
| Paul Gower | Director | Co-founder | 2001, 15 March | 2001, 10 December | Jagex | |
| Paul Gower | Director | Co-founder | 2005, 16 August | 2010, 3 December | Jagex | |
| Constant Tedder | Director | Co-founder, CEO | 2001, 10 December | 2010, 3 December | Jagex | |
| Nicholas Attwell | Company Secretary | - | 2001, 10 December | 2003, 25 July | Jagex | Nicholas Attwell is currently managing partner at Attwells Solicitors. |
| Susan Dixon | Company Secretary | - | 2003, 25 July | 2009, 11 February | Jagex | |
| Alexander Crisses | Director | - | 2005, 18 August | 2014, 18 December | Insight Venture Partners | |
| Jeffrey Horing | Director | - | 2005, 18 August | 2016, 20 June | Insight Venture Partners | |
| Geoffrey Iddison | Director | CEO | 2007, 10 September | 2009, 30 January | Jagex | Geoffrey Iddison joined Jagex having former experience as CEO of 'PayPal Europe'. |
| Mark Gerhard | Director | CEO, CTO | 2009, 1 February | 2014, 12 September | Jagex | Currently co-CEO and CTO of 'Build A Rocket Boy', Mark Gerhard initially joined Jagex as CTO and gradually worked his way up to his final role as CEO. |
| Riaan Hodgson | Company Secretary | - | 2009, 11 February | 2014, 6 November | Jagex | Currently COO of 'Build A Rocket Boy', Riaan Hodgson joined Jagex having former experience as CFO of 'Enghouse Interactive' and Finance Director at 'SAP BusinessObjects' and 'Seagate Software'. |
| Brandon Gardner | Director | - | 2010, 3 December | 2016, 20 June | The Raine Group | |
| Christopher Mitchell | Director | - | 2010, 3 December | 2013, 5 June | Spectrum Equity Investors | |
| John Salter | Director | - | 2010, 3 December | 2016, 20 June | The Raine Group | |
| James Quagliaroli | Director | - | 2010, 3 December | 2014, 18 December | Spectrum Equity Investors | |
| Michael Farrell | Director | - | 2013, 5 June | 2016, 20 June | Spectrum Equity Investors | |
| Rodney Cousens | Director, Chairman | CEO | 2013, 30 September | 2017, 24 January | Jagex | Rodney Cousens joined Jagex having former experience as CEO of 'Codemasters', COO of 'Acclaim Entertainment' and President at 'Activision'. |
| Mark Fardell | Company Secretary | General Counsel | 2014, 6 November | 2016, 3 June | Jagex | Mark Fardell joined Jagex having former experience as solicitor at reputable law firms 'Mills & Reeve' and 'Osborne Clarke'. |
| Philip Mansell | Director | CEO | 2014, 6 November | 2016, 8 October | Jagex | Philip Mansell joined Jagex having former experience as Lead Designer at 'Climax Studios' and 'Sony Computer Entertainment' and gradually worked his way up through roles as Lead Designer, Design & Monetization Manager, Executive Producer and COO culminating in his final role as CEO. |
| Philip Mansell | Director | CEO, COO | 2017, 24 January | - | Jagex | Philip Mansell joined Jagex having former experience as Lead Designer at 'Climax Studios' and 'Sony Computer Entertainment' and gradually worked his way up through roles as Lead Designer, Design & Monetization Manager, Executive Producer and COO culminating in his final role as CEO. |
| Richard Colledge | Company Secretary | Vice President of Finance | 2016, 3 June | 2017, 24 January | Jagex | |
| Zhihui Yang | Director | - | 2016, 20 June | 2018, 12 June | Fukong Interactive Entertainment | |
| Zhibin Li | Director | - | 2016, 20 June | 2017, 24 January | Fukong Interactive Entertainment | |
| Zhihuo Cui | Director | - | 2016, 20 June | 2017, 24 January | Fukong Interactive Entertainment | |
| Jinyu Pan | Director, Chairman | - | 2016, 7 October | 2019, 4 October | Fukong Interactive Entertainment | |
| Jianxing Yang | Director | - | 2016, 19 December | 2018, 11 October | Fukong Interactive Entertainment | |
| Yuanhui Huang | Company Secretary | - | 2017, 24 January | 2019, 4 October | Fukong Interactive Entertainment | |
| Yuanhui Huang | Director | - | 2018, 12 June | 2019, 4 October | Fukong Interactive Entertainment | |
| Jianxing Yang | Director | - | 2019, 30 September | 2020, 17 April | Fukong Interactive Entertainment | |
| Jianxing Yang | Director | - | 2020, 20 May | 2020, 1 June | Fukong Interactive Entertainment | |
| Xiaoqiang Wang | Director | - | 2017, 24 January | 2018, 20 November | Fukong Interactive Entertainment | |
| Zhija Feng | Director | - | 2018, 20 November | 2020, 17 April | Fukong Interactive Entertainment | |
| Shizong Yuan | Director | - | 2018, 20 November | 2020, 17 April | Fukong Interactive Entertainment | |
| Stuart Sullivan | Company Secretary | General Counsel | 2019, 4 October | 2021, 26 November | Jagex | Stuart Sullivan joined Jagex having former experience as Managing Director at 'SGS Legal'. |
| Stuart Sullivan | Director | General Counsel | 2020, 21 January | 2021, 8 January | Jagex | Stuart Sullivan joined Jagex having former experience as Managing Director at 'SGS Legal'. |
| Stuart Sullivan | Director | General Counsel | 2021, 24 February | 2021, 26 November | Jagex | Stuart Sullivan joined Jagex having former experience as Managing Director at 'SGS Legal'. |
| Ying Yang | Director | - | 2019, 30 September | 2020, 17 April | Fukong Interactive Entertainment | |
| Li Zhu | Director | CEO | 2020, 17 April | 2021, 8 January | Plutos Sama Holdings | Li Zhu was former head of Macarthur Fortune Holding which acquired Jagex through its private managed fund Platinum Fortune.[19][20] |
| Michael Keadjian | Director | - | 2020, 17 April | 2020, 27 April | Plutos Sama Holdings | |
| Yifei Wang | Director | - | 2020, 27 April | 2021, 8 January | Plutos Sama Holdings | |
| Adam Ginsburg | Director | - | 2020, 27 April | 2021, 8 January | Jagex | Adam Ginsburg joined Jagex having former experience at global management consulting firm 'Kearney'. |
| Michael Wand | Director | - | 2021, 8 January | 2021, 21 February | The Carlyle Group | |
| Petr Rieger | Director | - | 2021, 8 January | 2021, 24 February | The Carlyle Group | |
| Tyler Parker | Director | - | 2021, 8 January | 2021, 24 February | The Carlyle Group | |
| Andrew Tan | Director | - | 2021, 8 January | 2021, 24 February | The Carlyle Group | |
| Ashley Evans | Director | - | 2021, 8 January | 2021, 24 February | The Carlyle Group | |
| Niccolo De Masi | Director | - | 2021, 8 January | 2021, 24 February | Jagex | Niccolo De Masi joined Jagex having former experience as CEO of 'Glu Mobile'.[21] |
| Michael Griffith | Director | - | 2021, 8 January | 2021, 24 February | Jagex | Michael Giffith joined Jagex having former experience as former CEO of 'Activision'. |
| Rashid Varachia | Director | CFO | 2021, 26 November | 2024, 23 July | Jagex | Currently CFO and COO of 'Team17', Rashid Varachia joined Jagex having former experience as CFO of 'Codemasters' and 'Technicolor Disc Services International' (TDSI). |
| Prism Cosec Limited | Company Secretary | - | 2021, 20 December | - | N/A | Legal entity instead of natural person. Acquired by Equiniti (EQ); a British-based outsourcing business focused on financial and administration services. |
| Kevin Allington | Director | COO | 2024, 23 July | - | Jagex | Kevin Allington joined Jagex having former experience as COO of 'Animal Dynamics' and 'Oxbotica'. |
| Jennifer Hildreth | - | CFO | 2025, January | - | Jagex | Jennifer Hildreth joined Jagex having former experience as CFO of 'Ascential', 'WARC', 'Money20/20' and 'POSSIBLE'. |
References[edit | edit source]
- ^ Jagex Software. Jagex Ltd.. (Archived from the original on 29 November 1999.)
- ^ Alex Calvin. RuneScape: The first 20 years - An illustrated history, (30). Dark Horse Books, 2021. "Jagex was registered as a limited company on June 27th 2000. The brothers retrofitted 'Jagex' to stand for 'Java Gaming Experts', but that wasn't always its meaning. "It originally stood for 'Java Audio Graphics Extension'," Andrew Gower said."
- ^ Jagex. "RuneScape reaches one million members!." 04 May 2007. RuneScape News.
- ^ Rich List 2006. Sunday Times Online. (Archived from the original on 22 May 2011.)
- ^ Stellar Dawn Central. Jagex's mission statements throughout the ages. 12 March 2008. (Archived from the original on 27 March 2015.)
- ^ Anant. RuneScape developers Jagex Ltd. Secure investment from Insight Venture Partners. GamingBlog. 2005-10-28. (Archived from the original on 2005-11-03.)
- ^ a b Spectrum Equity. Jagex Limited Receives Growth Investment from Spectrum Equity (Press release). February 2011. (Archived from the original on 12 December 2016.)
- ^ Mod Balance. Jagex Investment & Aquisition. General Forums. 14 July 2016. (Archived from the original on 14 July 2016.)
- ^ Jamie Quested. Investment bonanza triggered as Jagex goes to Chinese in $300m deal. Business Weekly. 14 July 2016. (Archived from the original on 22 February 2023.)
- ^ Wesley Yin-Poole. Runescape maker Jagex bought by Chinese investors. Eurogamer.net. 14 July 2016. (Archived from the original on 23 February 2023.)
- ^ Jagex. "Company Announcement." 28 April 2020. RuneScape News.
- ^ Tom Ivan. RuneScape maker Jagex acquired for $530 million. VGC. 28 April 2020. (Archived from the original on 22 February 2023.)
- ^ Tom Ivan. Jagex sold for $530m. GamesIndustry.biz. 28 April 2020. (Archived from the original on 22 February 2023.)
- ^ Jagex. The Carlyle Group Acquires Jagex. (Archived from the original on 9 June 2021.)
- ^ Financial Times. Carlyle to sell UK video games maker Jagex for £910mn. 9 February 2024. (Archived from the original on 9 February 2024.)
- ^ Shanghai Hongtou Network Technology Co Ltd v Jagex Ltd [2020 EWHC 2439 (Ch)]. (Archived from the original on 28 January 2025.)
- ^ Jagex Ltd. filing history "new director appointed". (Archived from the original on 21 January 2025.)
- ^ Jagex Ltd. filing history "director resigned". (Archived from the original on 21 January 2025.)
- ^ Resignation of Chief Executive Officer and appointment of Executive Director and Chief Executive Officer. (Archived from the original on 21 January 2025.)
- ^ Shanghai Fukong Interactive Entertainment Co., Ltd. Major Asset Sale Report (Draft) (Third revision). (Archived from the original on 28 January 2025.)
- ^ With Carlyle Group in its corner, RuneScape maker Jagex says now is its time to shine. (Archived from the original on 21 January 2025.)
| Current | |
|---|---|
| Former | |