RuneScape Franchise Jagex Acquires Pipeworks Studios In Its First Studio Investment
Jagex has purchased Pipeworks Studios, marking the company’s first major investment in its 23-year history. The acquisition cost has not been disclosed, but it certainly isn’t cheap. Sumo Group previously paid $100 million for Pipeworks Studios in 2020.
The purchase of Jagex comes after a period of rapid expansion for the business. After five years of record games-as-a-service sales, several third-party publishing agreements, and its highest-ever RuneScape membership numbers, the firm has managed to establish itself as a leader in community-driven games.
In a press release, Jagex CEO Phil Mansell stated the following:
We are delighted to welcome Pipeworks into the Jagex Family. Pipeworks presents an incredible opportunity to bring onboard world-class game development talent. The studio brings elite-level game development expertise, specifically in AAA games-as-a-service, with an exemplary track record of collaborations with the world’s best game creators. Lindsay (CEO of Pipeworks) and his team have been running a successful and profitable group for many years, and we look forward to working together to publish Pipeworks’ developed IP and accelerate its growth”
The Eugene, Oregon-based firm Pipeworks Studios is best recognized for co-development. Since it was in charge of porting Terraria to several consoles, the developer has experience delivering games to new platforms.
It’s unclear at this time just what role Pipeworks Studios will play. But this is a major acquisition for a business like Jagex. Before this, it was estimated that Jagex employed 350 people. With the addition of Pipeworks Studios, there will be 550 employees, a rise in the staff of about 60%.
Along with the acquisition, Jagex also previously disclosed that it is developing a brand-new, unidentified IP. All that is known about the game so far is that it is an Unreal Engine 5 open-world survival game. Additionally, it intends to enlarge the Runescape world.
