Tencent buys League of Legends Developer Riot Games

By Business, LoL
Riot games logo

Riot Games sells remainign stake in League of Legends to Tencent

Tencent games, based in China is a major player in the video and casual gaming industry. In early 2011 the company brought a majority stake in League of Legends developer and US based Riot Games. The purchase gave Tencent around 93% ownership in Riot, a majority stake in the fledgling eSports franchise and a purchase price of just over $350 million.  Just before the Christmas rush this year, Tencent announced they they have acquired the remaining interest in Riot games and they now own the League Of Legends franchise 100%.

Tencent’s other gaming franchises include investments in Activision Blizzard, Korea’s 4:33 Creative Lab, Glu Mobile, and Epic Games. In a statement earlier this year by Riot Games management team stating that “major changes are projected for the company’s products in 2016 going into 2017, inspired predominantly by the massive and runaway success of League of Legends (LoL) in the eSports sector. Watch this space, Tencent are now one of the biggest eSports publishers in the world and they have publicly stated they will look to scale up their investments in the eSports vertical in 2016 and beyond.