Notes

Jagex Buys The US-based Pipeworks Studios

Cambridge, UK - Thursday, July 21st 2022, 3pm GMT The world's leading publisher and game developer Jagex has today announced the acquisition of Pipeworks Studios ("Pipeworks") is a well-established and innovative 200-person development studio located in Eugene, Oregon.



This transaction marks Jagex's first acquisition of an outside studio. It reflects Jagex’s determination to increase its talent pool as well as expand its presence in North America.



Jagex has seen a significant growth since the acquisition. In its quest to become a leader in community-driven games, Jagex has recorded five years of record revenues from games-as-a-service as well as a string of publishing deals with third-party publishers and the highest RuneScape membership in the franchise. Global investment firm Carlyle (NASDAQ : CG) purchased Jagex in 2021 to support the company's growth strategy.



Pipeworks was founded in 1999 and has since become an innovator in the field of advanced technology solutions and gaming for both established and emerging IPs. Pipeworks employs more than 200 people. They have shipped more than 150 games and are embedded in key franchises like EA Sports, Wizards of the Coast and Activision.



"We are delighted to welcome Pipeworks into the Jagex Family," said Phil Mansell, CEO of Jagex. "Pipeworks provides an incredible chance to bring on top-quality game development talent. The studio offers top-of-the-line game development expertise, particularly in AAA games-as-a service, and has an outstanding track record of collaborations with the most renowned game designers in the world. Lindsay (CEO of Pipeworks) and his team have been able to run a profitable business for years. We are looking forward to working with them in publishing Pipeworks' IP and accelerating its growth.



"This is an opportunity for us to level up again, as we each bring our own unique experiences to the partnership," said Lindsay Gupton, CEO of Pipeworks Studios. "Jagex's strategy of offering a platform for developers to create rich games that are community-driven is in line with 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 expansion and to keep a focus on its core RuneScape franchise, while also diversifying the company's portfolio and business. The acquisition of Pipeworks is in line with this plan and we are thrilled to be able to assist Jagex with this transaction."
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The terms of the deal were not disclosed. Aream & Co. acted as Sumo Group's exclusive financial advisor, and Allen & Overy as its legal advisor. Linklaters acted as legal advisor to Jagex.



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About Jagex A pioneer in the development of deep and engaging live games for PC and mobile, Jagex's flagship MMORPG RuneScape has welcomed more than 300 million player accounts to its world and has become a $1billion lifetime revenue franchise. Today the RuneScape franchise is more than just operating live games Our games are live games that connect and inspire millions of players, by providing content and experiences inside and outside of inexhaustible game worlds. Both RuneScape and Old School RuneScape offer ever-evolving, highly active worlds on PC as well as mobile, and our community-driven development philosophy allows players to have a real influence on how the game is developed. We're currently expanding and expanding our range of franchise games and brand new IP to help bring life to the living games of the future. Jagex employs more than 450 employees and is located in Cambridge, UK. Career information can be found at www.jagex.com/careers



About Pipework Studios Pipeworks is an innovative, well-established, and respected US video game developer based in Eugene, Oregon. Pipeworks provides full development, co-development and live operations to premier video game publishers and other partners. Pipeworks believes in developing unique and innovative games that draw on the talents of their team and harness the power of the community.


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