Cambridge-based developer Jagex has taken a "pivotal role" in the creation of a new publicly-listed Chinese game company called Zhongji Holding.

Jagex was acquired earlier in the year by Chinese investors at Hongtou, of which Zhongji Holding now owns a 51% stake in.

Zhongji Holding will purchase the remaining 49% of Hongtou during the next 12 months.

The Chinese company has stated its intention to commit significant resources to investing in further acquisitions of games companies across the globe.

Given China's propensity for mobile, this may well include further acquisitions of mobile developers.

Jagex will continue to operate as before and will open a new London studio following its record profits of $36.1 million in 2015.

Great ambition

"The process of building up Jagex to bring about an initial acquisition and then taking it forward on a path that sees it taking centre stage in a new public gaming-focused company listed in China, can only be viewed as remarkable," said Rod Cousens, Chairman and CEO of Jagex.

"Zhongji Holding has great ambition in the gaming space and Jagex is at the forefront of its charge. China is the biggest gaming market in the world and Zhongji Holding's motivation in the sector will prove a compelling proposition for other gaming businesses seeking access to the region.

"While an integral part of Zhongji Holding’s plans, Jagex’s operations remain unchanged and its business as usual for our games, players and our employees."