Riot Games, developer of League of Legends , has been outright purchased by Tencent games.

“ Our majority investor, Tencent, recently purchased the remaining equity of Riot Games.

Loading

a post on Riot Games' official site, the developer confirmed that its majority investor, Tencent Holdings Limited, has purchased the remaining equity of Riot Games – meaning the company is now in full control of Riot Games."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."One of China's largest internet companies, Tencent has become the world's largest game company. The Shenzhen-based corporation holds minority, yet substantial stakes in companies like Activision Blizzard, Epic Games, GLU Mobile, and Pocket Gems, in addition to it's now-total ownership in Riot Games.IGN has reached out for additional information and will update this article as necessary.

Brandin Tyrrel is an Associate Editor at IGN. You can follow him on Twitter at @BrandinTyrrel