Jagex: US Pipeworks Studios acquired

Jagex acquires US-based Pipeworks Studios in first-ever studio investment.

The world’s leading game developer and publisher, Jagex, has announced the acquisition of Pipeworks Studios (“Pipeworks”), a well-established and innovative 200-person development studio based in Eugene, Oregon.

This transaction marks the first acquisition of an outside studio and reflects Jagex’s commitment to expanding its team of world-class talent and expanding its presence in North America.

The acquisition follows a period of strong growth. Jagex has established itself as a leader in community-driven gaming, with five years of record Games-as-a-Service sales, a string of third-party publishing deals and the highest membership in the RuneScape franchise to date.

In 2021, global investment firm Carlyle (NASDAQ: CG) acquired Jagex to support the company’s growth strategy, including mergers and acquisitions.

Founded in 1999, Pipeworks has built a reputation as a global force in gaming and advanced technology solutions for established and emerging IPs. The Pipeworks team consists of more than 200 employees who have published more than 125 games and are deeply involved in major franchises from partners such as EA Sports, Wizards of the Coast, Activision, Genvid, MetaTeq and others.

“We are very pleased to welcome Pipeworks to the Jagex family,” said Phil Mansell, CEO of Jagex. “Pipeworks gives us an incredible opportunity to onboard top-notch game developers. The studio has world-class expertise in game development, particularly AAA games as a service, and an exemplary track record of working with the world’s best game developers. Lindsay (CEO of Pipeworks) and his team have run a successful and profitable business for many years and we look forward to working together to release the IP developed by Pipeworks and accelerate its growth.”

“This is an opportunity for us to rise again as we each bring our own experiences to the partnership,” said Lindsay Gupton, CEO of Pipeworks Studios. “Jagex’s approach of providing developers with a leading platform on which to build durable and content-rich community-driven games aligns perfectly with Pipeworks’ work-for-hire model and focus on creating innovative games and technologies.”

Michael Wand, Managing Director and Co-Head of the Advisory Team at Carlyle Europe Technology Partners, said: “In January 2021, Carlyle acquired Jagex to support the company’s next phase of growth. This includes staying focused on RuneScape’s core business while further diversifying the company and its portfolio. The acquisition of Pipeworks is consistent with this strategy and we are pleased to support Jagex in this transaction.”

The terms of this transaction were not disclosed. Aream & Co. acted as exclusive financial advisor to Sumo Group, Allen & Overy as legal advisor and Linklaters as legal advisor to Jagex.

About Jagex: Jagex’s flagship MMORPG RuneScape is a leader in the development of deep and immersive live games for PC and mobile and has welcomed nearly 300 million players to its world. Today, the RuneScape franchise doesn’t just exist in live operations. Our titles are living games that connect and inspire millions of players with content and experiences inside and outside the endless game worlds. Both RuneScape and Old School RuneScape offer ever-evolving, highly active worlds on PC and mobile, and our community-driven development ethos allows players to have a real say in how each game is shaped. Now we’re expanding our portfolio with fresh franchise titles and new IP to bring the vibrant games of the future to life. Jagex employs more than 450 people and is headquartered in Cambridge, UK.

About Pipeworks Studios: Pipeworks is an innovative, established and respected US video game developer based in Eugene, Oregon. The company offers full development, co-development and live operations to world-class video game publishers and other partners. Pipeworks aims to create innovative and unique games that harness the creative spark of their teams and involve the power of the players and community.

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