Chinese holding company Tencent swallows up Riot Games

Riot owned by Tencent

Tencent, the gargantuan Chinese holding company, has now swallowed up League of Legends developer Riot games. The announcement was made public in a blog post about employee compensation, revealing that Tencent now controls 100% of the company’s stock. 

“As a result of our continued growth and changing circumstances,” the blog post reads, “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.“

Tencent already owned 93% of Riot before this.

It’s not clear if this will affect the game itself of the hordes of players who use it to indulge their MOBA habit. The blog post is focused on how it will affect Riot’s employees, and the developer is now moving away from an equity program to cash incentives.

Tencent is also an investor in Activision and has its fingers in countless pies, including Candy Crush and IM platform QQ.