Riot Games now owned entirely by Tencent

Riot Games, the developer of the immensely successful MOBA League of Legends, has sold its remaining equity to Chinese online company Tencent Holdings- who are essentially Chinese Google. The news comes from an update to the studio’s employment page, where it announces a new compensation plan for staffers as a result of the new ownership.

 

League of Legends

League of Legends

 

“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 states, “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.”

Due to Tencent’s buy out, Riot employees will be eligible for a “cash-based incentive program” that rewards them based on the company’s success.

This is just one of the many changes to be announced by Riot recently, with the other pertaining to its most popular title League of Legends. Riot announced earlier this year that “major changes” were coming to the MOBA in 2016, citing the traditional sports world as the major inspiration for League’s next major update.

In addition to Riot, Tencent is an investor in Activision Blizzard and holds a stake in Epic Games. The company owns a licence to print Yuan, as it also distributes Candy Crush Saga to Chinese audiences.

 

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