Riot Games, the creator and developer of famous game ‘League of Legends,’ is now fully and entirely owned by Tencent Holdings, a Chinese online company behind WeChat.
"As a result of our continued growth and changing circumstances, we're shifting to a new structure to recognize and reward Rioters' contributions," the post from Riot Games stated, "and that first involves a big change to our existing equity program."
"As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games."
In 2011, Tencent invested in Riot Games after buying most of the studio, about 70% of it. Fast forward to 2015, the Riot Games California studio told its employees that the Chinese company had already purchased the remaining equity in the company, according to Engadget.
No amount was told, but considering that League of Legends earns at least $1 Billion per year in its in-app purchases, a huge price must have been paid. Moreover, the company that surpassed Alibaba could afford it since it has been valued at $200 Billion.
Aside from owning Riot Games, which is one of the best studio in the US to work at, Tencent also has stakes in Activision Blizzard, the creator of World of Warcraft and Call of Duty, and on Epic Games, the developer of Gears of War. Currently, it also distributes the popular mobile game Candy Crush Saga to users in China.
Accordingly, more major changes are coming to League of Legends in the coming year. Fans and gamers could only expect to have a more exciting gaming experience as the changes are put into the game.
What are your thoughts about the Tencent from China now owning Riot Games? Do you think it could affect League of Legends? Are you excited for the major changes that the company announced?
