League of Legends fans might be interested in knowing that the studio behind their favorite game, which happens to be one of the biggest online games in the world, has been acquired by a Chinese internet giant. It was back in 2011 when said internet giant Tencent purchased a majority stake in Riot Games, the developer behind League of Legends. It has been confirmed today that Tencent has now acquired the remaining stake and has full ownership of Riot Games.
This isn’t Tencent’s first Western game developer. It also owns a stake in Epic Games, best known for Gears of War, and even Glu Mobile, which is a studio that’s primarily known for its celebrity-focused mobile games.
Riot Games released its first and only title back in 2009, and that was League of Legends, which over the past few years has grown to become one of the world’s most popular online strategy games. More than 67 million people are estimated to play the game every month.
The developer which comprises of 18 studios scattered across the globe recently announced its plans to overhaul this free to play title, it’s going to be the first major overhaul for League of Legends.
Riot confirmed this news alongside the announcement of a new “cash based incentive program” which enables staff to share in the monumental success of this insanely popular online strategy game. “As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games,” it said.