Reports are that Insight Venture Partners has acquired an extra 20 percent of Jagex. This gives the company a 55 percent stake in the online developer and essentially shifts its control from the U.K. to the U.S.
Part of this agreement will see 2.5 million British Pounds ($3.86 million) in expenses paid off. Jeff Horing, managing director at Insight along with Insight partner Alex Crisses, now both have seats on the Jagex board of directors, in addition to with Jagex CEO Mark Gerhard and two other VC firms.
Jagex now has the luxury of significant cash reserves for multiple projects. Right now, the online game developer is believed to have well over 400 employees.
Source: Develop
