Carlyle explores £1bn sale of UK video games maker Jagex

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Private equity group Carlyle has hired advisers to explore a sale for its Cambridge-based video game developer Jagex, according to people familiar with the matter.

Jagex, which has developed games including Runescape, is working with bankers at Morgan Stanley, the people said. The company could fetch more than £1bn in a sale, the people said.

Discussions are at an early stage and the timeline on a sale process could last from the end of this year until the first half of 2024, the people cautioned.

The company had previously been seen as a candidate for a UK initial public offering. Several London-listed video-games developers, including Codemasters and Sumo Digital, have disappeared from the public markets in recent years following foreign takeovers.

Representatives for Carlyle and Morgan Stanley declined to comment.

This is a developing story