Tencent Acquires Riot Games (and League of Legends) for $400M
One game. Two and a half years. Four-hundred million dollars.
That’s the raw story behind the rise—and purchase—of Los Angeles-based Riot Games, which was just recently bought out by China’s Tencent for approximately $400 million. The deal values Riot Games at roughly $472 million, which is hardly a shabby amount for a company that, literally, only has one game to its name.
The title, League of Legends, is an isometric strategy game where teams of players compete against each other in a one-on-one format. The goal? To push an opposing team’s players back to its primary base through a combination of actions that you perform as a “hero” creature within a given map, as well as the continuous onslaught of waves of NPCs emanating from each team’s base.Read the full article on CNET