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Tencent Acquires Remaining Shares of Riot Games
Tencent is not only the biggest company of its kind in China, but it is also the majority equity holder in Riot Games, the creator of the highly popular League of Legends.
Riot Games has just announced that they are shifting to a new equity structure and that Tencent has bought the remaining equity in Riot Games. This means that Tencent is now in full control of Riot.
As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games. This allows us to move away from a Riot equity program towards a cash based incentive program that allows Rioters to share in Riot’s success. This program comes in addition to our highly competitive salaries, open PTO, learning and development programs, 401K match, subsidized medical plans, and kitchens stocked with snax (poro and otherwise) all full-time Rioters get.
Tencent bought the majority of Riot Games back in 2011 and the remaining teeny tiny bit now belongs to the Chinese giant as well.
Tencent is looking to create a stronghold for itself in the West. Along with acquiring Riot, the company is looking to expand its mobile business in the region as well.
Tencent’s mobile business will kick-off with the release of “We Fire.”
Tencent’s plans to hit the western market are still at early stages, and they will need a well thought out roadmap before targeting such a different audience.
Success will be hard to get and it strongly depends on how they reskin Chinese games for the western market. Tencent is not only thinking to expand mobile business outside of China, but the company is considering the arrival to WeChat Pay outside the region too.