Tencent buys developer of League of Legends

Tencent acquires Riot Games, the creator of online game League of Legends, for around $400 million.

Tencent Holdings has acquired a majority stake in Riot Games, the developer of online game League of Legends. Financial terms were not disclosed.

Tencent is China’s largest internet portal and has a leading position in instant messaging. The Shenzhen-based company gets its revenues from internet value-added services, mobile and telecommunications value-added services and online advertising. Tencent listed on the Hong Kong stock exchange in mid-2004 in an initial public offering led by Goldman Sachs.

Riot Games was set up in 2006 by Brandon Beck and Marc Merrill. The two twenty-something-year-olds had an idea to develop video and online games that could be played in short stretches of time, for example during a lunch...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222