Tencent completes its full acquisition of Riot Games
In a recent announcement, American video game publisher and developer Riot Games Inc. has revealed that bigwig Chinese Internet firm Tencent Holdings Ltd. has completed the full acquisition of the company.
Tencent had acquired a majority stake in Riot Games -- the company behind ‘League of Legends’ real-time strategy video game video game -- in February 2011; and now the remaining equity of the developer has also been acquired by the Chinese Internet company.
The financial details of Tencent’s full acquisition of Riot Games have not been officially disclosed. However, according to a report, Tencent owned nearly 93 percent of Riot Games’ stakes before taking over the full ownership of the company.
In a confirmation that Tencent has fully acquired Riot Games, the video game developer has disclosed, in a recent post on its official website, a change to its equity and employee rewards structure, to indicate that “our majority investor, Tencent, recently purchased the remaining equity of Riot Games.”
In an announcement of the company’s full acquisition by Tencent, Riot Games said in its post that there were incoming “Riot comp changes,” and added: "As a result of our continued growth and changing circumstances, we're shifting to a new structure to recognize and reward Rioters' contributions."
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