Chinese Internet giant buys shares it didn’t already down in developer of popular ‘League of Legends’
HONG KONG— Tencent Holdings Ltd. said it had bought all of the shares in U.S. online-game company Riot Games it didn’t already own, in a deal that gives the Chinese Internet giant full control of the developer of the popular “League of Legends.”
Before the deal, Tencent owned a 93% stake in Riot.Financial terms of the transaction weren’t disclosed.
Tencent first invested in Riot in 2011 to beef up its online games offerings, buying a majority stake in the Los Angeles-based company.
Since then, the Chinese company had been gradually increasing its stake in Riot.
Riot’s “League of Legends,” one of the highest grossing online games with avid fans around the world, is an important asset for Tencent, analysts say.
Tencent, which runs the popular WeChat and QQ messaging applications, earns more than half of its revenue from online games.
source : http://www.wsj.com/articles/tencent-...mes-1450342769
tencent also owns a part of activision if i am not mistaken , possible merge on the horizon ?