League of Legends Dev Now Totally Owned By This Chinese Internet Company

Chinese Internet company Tencent has completed its purchase of League of Legends developer Riot Games.

Tencent acquired a majority stake in Riot Games in February 2011, and "recently purchased the remaining equity of Riot Games," the developer announced in a blog post today.

Tencent's total purchase of Riot Games will effect how employers (referred to by the company as "Rioters") are compensated as part of its equity incentive program.

"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," the developer explained. "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."

In addition to Riot, Tencent owns 40 percent of Epic Games. Tencent is also an investor in Activision Blizzard.