Major investor Tencent has as of today purchased the remaining equity in League of Legends developer Riot Games. The news comes via the Riot employment page, that goes into detail about new compensation thanks to the purchase.
In the statement on the Riot site, they explain that “Riot’s approach to compensation has always been about aligning the incentives of the company with Rioters, and also about ensuring that we compensate our talented team of professionals well.
As a result of our continued growth and changing circumstances, we’re shifting to a new structure to recognize and reward Rioters’ contributions – and that first involves a big change to our existing equity program. As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games. This allows us to move away from a Riot equity program towards a cash based incentive program that allows Rioters to share in Riot’s success. This program comes in addition to our highly competitive salaries, open PTO, learning and development programs, 401K match, subsidized medical plans, and kitchens stocked with snax (poro and otherwise) all full-time Rioters get.”
Tencent currently has holdings in many major players in the games industry with stakes in Activision Blizzard and Epic Games. With this strategic move, Tencent further secures its place as one of the major players in the games industry.