China's Tencent Now Owns Riot Games, Maker of League of Legends
Chinese internet giant Tencent is now the proud owner of Riot Games, the company behind the highly successful and very famous game League of Legends.
California-based Riot Games quietly announced in a blog post that it is now owned by Tencent. The Chinese economic giant already had shares in the company since 2011, and has now purchased its remaining equity, giving it full control as the owner of the game developer.
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Riot said that because of this, they can now move away from a “Riot equity program towards a cash based incentive program.”
They added that this new incentive program comes on top of the existing set up that offers a highly competitive salary, open Paid Time Off, 401K match, learning and development programs, subsidized medical plans, and a whole lot of things that all its employees can enjoy like kitchens fully stocked with snacks and fully sunsidized meals at the Riot cafeteria.
Not only that, employees also get to enjoy things that League of Legends players want, such as daily gameplay tests, promotional items, and the opportunity to submit personalized Champion ideas to be used as characters in the highly successful League of Legends.
Tencent is one of China's three biggest internet giants. Aside from now owning Riot Games, Tencent also owns stakes in other companies such as Activision Blizzard, Epic Games, GLU Mobile and Pocket Gems.