We have some interesting League Of Legends news for you today. After buying most of the studio behind League of Legends in 2011, Tencent now owns it completely. California studio Riot Games told employees that the Chinese internet giant had purchased the remaining equity in the company.
We have no info about the price, but League of Legends reportedly makes $1 billion a year through in-app purchases. So you can imagine that it was an expensive purchase and likely a good one. This shouldn’t strain Tencent’s finances though, since it was recently valued at $200 billion. You may not know it, but Tencent also owns big stakes in Activision and Blizzard, the maker of World of Warcraft and Call of Duty. This will be another company under it’s belt. It’s probably like you or I buying a new TV.
Tencent had already owned a 70 percent share of Riot Games, though it has been said that the company keeps a relatively hands-off approach. The studio said that incentive packages would shift from equity to cash, but there are no other details. With MOBAs being very popular in China, this move makes sense for Tencent. The deal should not affect the average LoL player though.