Global asset management company Macarthur Fortune has acquired Jagex, one of the UK’s largest video game developers and publishers, for $530m (£428m) through one of its funds, Platinum Fortune LP, from Shanghai Hongtou Network Technology.

Hongtou Network (Hong Kong) was also acquired by Platinum Fortune LP. The management team of Jagex, headquartered in Cambridge will remain in place.

Macarthur Fortune said it was dedicated to utilising its experience and expertise to add value to one of the longest-standing video game developers through strategically investing in R&D and marketing to attract new players to its RuneScape franchise of games.

Phil Mansell, Jagex CEO, said: “The combined strength of Macarthur Fortune and Jagex will both support and enhance our strategic plan to deliver great gaming experiences to our communities of RuneScape players and build on our portfolio with more living games for a global audience.”