Tencent Buys the Rest of Riot Games, Owns League of Legends Maker Outright
It would appear that the developer that created League of Legends, Riot Games, has sold the remaining shares of their company to their majority investor, Tencent. This change allows Riot Games to offer their employees better benefits and incentives, something they weren’t necessarily able to offer before the full acquisition.
Riot Games bought by Tencent, can now offer much better benefits and employee incentives.
The move might be seen as controversial, but in an industry that’s constantly shifting and moving, this further ensures their survivability should something unfortunate happen. League of Legends might be one of the most popular eSports platforms right now, but that may not always hold true. They have tremendous talent, and want to be able to secure a future for their people.
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.