Cambridge, UK - Thursday 21st July 2022 3pm GMT - Leading global games publisher and developer Jagex has today announced the acquisition of Pipeworks Studios ("Pipeworks"), a highly established and innovating 200-strong development studio located in Eugene, Oregon.
Marking its first ever acquisition of an external studio, this acquisition demonstrates Jagex's determination to grow its team of world-class talent and expand its presence in North America.
The acquisition comes after a significant period of growth for Jagex. It has established itself as a leader in community-driven games, Jagex has recorded five years of record revenues from games-as-a-service and a string of publishing deals with third-party publishers and its highest ever RuneScape membership in the franchise. In 2021, global investment firm Carlyle (NASDAQ: CG) acquired Jagex to aid in the company's growth strategy, including M&A.
Pipeworks was founded in 1999 and has become a leader in advanced technology solutions and gaming for both established and emerging IPs. Pipeworks' team of more than 200 employees has delivered more than 125 games and become integrally incorporated into key franchises for partners including EA Sports, Wizards of the Coast, Activision, Genvid, MetaTeq, and more.
"We are thrilled to welcome Pipeworks into our Jagex Family," stated Phil Mansell, CEO at Jagex. "Pipeworks presents an incredible opportunity to bring in the best game development talent in the world. The studio has a stellar track of collaborations and top game development expertise, particularly in AAA games as-a-service. Lindsay (CEO of Pipeworks) and his team have been running a profitable and successful company for a long time and we are looking forward to working together to publish Pipeworks' developed IP and to accelerate its growth."
"This is an opportunity to step up once again because we each bring our own unique experiences to the partnership," said Lindsay Gupton who is the CEO of Pipeworks Studios. "Jagex's strategy of providing a platform for developers to create content-rich games that are based on community is aligned with the Pipeworks work-for-hire model. It is also focused on creating innovative games.
Michael Wand, Managing Director and Co-Head of the Carlyle Europe Technology Partners advisory team said "In January 2021, Carlyle acquired Jagex to support the next phase of the company's growth, including maintaining a focus on its core RuneScape franchise, while also diversifying the business and its portfolio. We are thrilled to partner with Jagex in this deal.
The terms of the transaction were not disclosed. Aream & Co. was Sumo Group's sole financial advisor, Allen & Overy was its legal advisor and Linklaters was Jagex's legal advisor.
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About Jagex A pioneer in the development of deep and engaging live games on PC and mobile, Jagex's most popular MMORPG RuneScape has welcomed almost 300million players to its community and is an annual revenue of $1 billion. Today the RuneScape franchise is more than just playing games in live operations and our games are real games that connect and motivate millions of players by providing content and experiences inside and outside of inexhaustible game worlds. Both RuneScape and Old School RuneScape offer ever-evolving high-activity worlds on PC and mobile and our community-focused development ethos empowers players to have a real influence on how the game is developed. Runescape We are expanding our portfolio with new franchises and IP that will bring life and excitement to the games of the future. Jagex employs more than 450 people and is headquartered in Cambridge, UK. Career information can be found at www.jagex.com/careers
Pipework Studios is an innovative established, well-established, and widely well-respected US video game developer based in Eugene, Oregon. It provides full development, codevelopment and live operations for top video game publishers as well as their partners. Pipeworks believes in creating unique and innovative games that tap into the creative energy of their teams and embrace the power of the players and community.