China’s Shandong buys U.K. game developer Jagex for $300m

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

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.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.