Tencent buys up the rest of Riot Games

    
38
League of Legends developer Riot Games has a new owner this week. Well, really it’s the same ostensible owner as before, China’s Tencent Holdings, only now Tencent has gobbled up the last 7.22% of the company.

Riot announced the sale of its remaining equity in an oblique message on its website framed as a cash-based incentive program for Riot employees:

As a result of our continued growth and changing circumstances, we’re shifting to a new structure to recognize and reward Rioters’ contributions – 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. 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. This program comes in addition to our highly competitive salaries, open PTO, learning and development programs, 401K match, subsidized medical plans, and kitchens stocked with snax (poro and otherwise) all full-time Rioters get.

Tencent’s major purchases of Riot came in 2008 and 2011. The company also has a small stake in Epic Games.

Source: Riot Games via Polygon
Advertisement
Previous articleWoW Legion aims to flatten the PvP gear curve
Next articleGrab a Star Trek Online T6 Valiant key from PWE and MOP [All gone!]

No posts to display

38 Comments
newest
oldest most liked
Inline Feedback
View all comments