Riot Games, the studio behind the wildly popular League of Legends MOBA, has been purchased by Chinese Internet services company Tencent. Tencent had already held a majority stake in Riot Games after a 2011 investment. Riot says the buyout will allow it to offer cash-based incentives to its employees rather than equity shares.
The League of Legends maker isn't standing still after its level-up, and it seems to have big plans for the extra resources Tencent is injecting into its operations. The firm is planning to overhaul League of Legends entirely in 2016 with the help of its player base. Considering how big a part League of Legends and other competing MOBAs play in today's gaming landscape, it'll be interesting to watch what Tencent does with its new property.
Tencent may not be a widely-known name in Western lands, but it operates one of the web's largest online stores and chat communities. Perhaps of greater importance to gamers, the company also owns stakes in Activision and Epic.
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