Tencent now owns League of Legends outright

Tencen, the Chinese company best known for its instant messenger, WeChat, now owns 100% of League of Legends developer Riot Games.

Back in 2011 Tencent, which South African media enterprise Naspers owns 35% of, acquired the majority of Riot Games shares just three years after the game launched.

According to Cnet, the move to acquire the multiplayer online battle arena (MOBA) comes as a result of the game making well over $1 billion (R14.9 billion) last year and drawing a 130 million viewer base.

Riot Games made the announcement of the acquisition to employees through a blog post which outlined how new ownership will affect the company and what changes can be expected in the coming months.

Among the changes is a move towards a cash based incentive program rather than the equity based program it was using. The blog post reads “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”, concluded Riot Games.

Massive changes are expected to be made to League of Legends next year including a refreshed web client and improved interaction. Tencent may have taken over the reigns at just the right time.

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