Tencent takes over LOL developer

Tencent takes over LOL developer

Chinese firm Tencent has taken sole control of League of Legend developer Riot Games.

The news was announced in Riot Games’s website, citing a change in compensation for their staff.

It elaborates on how they will be moving from a “Riot equity program” to a “cash-based incentive program” that would allow employees to get their cut out of Riot’s successes.

Prior to the sale, Tencent was already the majority owner of Riot and was in control of almost 93% of the stock in the game maker. No figure was given for the sale of the remaining 7%.

League of Legends is one of the most popular multiplayer games in the world since being introduced to the world.

Statistics suggest 27 million people play it every day while around 7.5 million people play it simultaneously during its peak hours of popularity.

Their track record easily and distinctly justifies any buyout.

However, the fate of the online battle arena remains unclear, as no changes were announced as of yet.

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