Riot Games, maker of PC online battle arena game League of Legends, has announced that Chinese internet services provider Tencent has acquired a majority stake in their company. We still don't know what this means financially, but the day-to-day operations will remain independent, and the current management will stay in charge. Back in 2008, Tencent licensed League of Legends for the Chinese market.
A release says that Riot plans to hire aggressively for their offices in 2011 while maintaining their Los Angeles main officese. They also plan to use this new financial backing to bring League of Legends into new markets and develop new games.
"This is exciting news for 'League of Legends' players and the existing Riot Games team," said Brandon Beck, CEO, Riot Games. "Tencent's investment will provide our talented team of designers, developers and community staff with additional resources to focus on innovating around ‘League of Legends’ and launching new projects that push the boundaries in the gaming space."