Chinese gaming giant Tencent purchases makers of League of Legends

Riot Games, the creators of League of Legends, have been purchased by Tencent.

| Dec 16, 2015 at 6:35 pm CST

Well, this came out of nowhere - Chinese gaming giant Tencent has just secured the remaining equity in Riot Games - the creators of League of Legends. Riot Games very quietly made the announcement earlier today.

Chinese gaming giant Tencent purchases makers of League of Legends | TweakTown.com

Riot Games said in an update: "Our majority investor, Tencent, recently purchased the remaining equity of Riot Games. This allows us to move away from a Riot equity program towards a cash based incentive program that allows Rioters to share in Riot's success". Riot continued: "Riot's approach to compensation has always been about aligning the incentives of the company with Rioters, and also about ensuring that we compensate our talented team of professionals well".

Back in 2011, Tencent secured a majority stake in Riot Games, buying out their other investors for a rumored $400 million deal. Tencent has been a long-time investor in the League of Legends developer, investing in Riot back in 2009, and then signing a Chinese distribution deal for League of Legends back in November 2008. Riot Games added: "We're excited about the flexibility of this new approach to comp and believe it'll help us continue to ensure Riot remains a great place to work".

Last updated: Jun 16, 2020 at 04:29 pm CDT

NEWS SOURCE:gamesindustry.biz

ABOUT THE AUTHOR -

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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